It is a full computer in a tablet form factor. $299 price point without a keyboard. It is definitely an ipad killer, probably a Surface RT and maybe Pro killer. I would still like a pen with this form factor. I also think it is a Chromebook killer.
I think it would make a nice option for elementary and middle school 1:1, I would spend a bit more for high school and give them a bigger screen and a real keyboard.
Cons: no real usb ports, need a micro hub and battery power.
Pros: Small, we will on battery life, they claim 8 hours. Runs real programs. Touchscreen but I would buy without.