Ok, the specs are a real joke;
1024-by-768-pixel resolution at 132 pixels per inch (ppi)
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Also it only has VGA out via an adaptor - no HDMI.
However ten hours of battery from a 1.5lbs device is very good.
Personally I'd say to wait for the iPad 2 folks. If only because the software will be more mature, the app store will be full of iPad targetted software, the device will come with an SD slot instead of requiring an adaptor, and more.
However I will wait until the launch for the rest of the launch software to be completed.
It had better have a microphone and speaker.
Edit: Audio - The powerful, built-in speaker produces a full, rich sound. Which makes watching a movie or listening to music even more enjoyable. It also comes with a headphone jack and a built-in microphone.