Will we see an tablet that is effectively a laptop?

Lack of multitasking; not being able to open multiple windows of a browser; unable to play many videos; device being an application based.

I am going to buy the iPad but hoping the HP tablet will be more like a desktop/laptop replacement.

Is the iPad going to be like the iPod touch where lot of videos do not play (even on YouTube some videos play and others do not) and unable to watch live streaming sports?

I would buy both. They're so different beasts that chosing is like deciding between a pig and a cow... You decide what is what!:p

I am going to buy the iPad for now but most likely will buy the HP tablet when it becomes available, which looks unlikely till the second half of the year, possibly late in the year. I have read a few previews of the HP tablet, and by sound of things, it will be much more a like for like replacement for a desktop/laptop albeit in a tablet form. I hope the resale value for the iPad is still pretty high in a few months time because the HP tablet might be quite pricey and don't want to have to spend on two different computers in the same year, especially since I already have two desktops and two laptops around the house.