It has a 1GHz dual-core TI OMAP 4430 processor, 1GB of RAM, the usual slew of WiFi and Bluetooth radios, an IR blaster, and 8GB of internal storage. If that’s just not enough space for you to work with, there’s also a microSD card slot capable of taking up to 32GB of additional storage embedded in the device’s left edge.
It's also suppose to come with ICS (Android 4.0). Now that's a tablet I'm getting. The only thing that will steer me clear of this product if is Asus makes good and delivers a 7" T3 for $250
There's already a review (link