The full specification will be at Apple.com website.

The most important details are below

Display

1. 9.7-inch (diagonal) LED-backlit glossy widescreen Multi-Touch display with IPS technology
2. 1024-by-768-pixel resolution at 132 pixels per inch (ppi)
3. Fingerprint-resistant oleophobic coating
4. Support for display of multiple languages and characters simultaneously

Wireless and Cellular
Wi-Fi model

1. Wi-Fi (802.11 a/b/g/n)
2. Bluetooth 2.1 + EDR technology

Wi-Fi + 3G model

1. UMTS/HSDPA (850, 1900, 2100 MHz)
2. GSM/EDGE (850, 900,1800, 1900 MHz)
3. Data only2
4. Wi-Fi (802.11 a/b/g/n)
5. Bluetooth 2.1 + EDR technology

Battery and Power

1. Built-in 25Whr rechargeable lithium-polymer battery
2. Up to 10 hours of surfing the web on Wi-Fi, watching video, or listening to music
3. Charging via power adapter or USB to computer system

Looks like a up sized iPhone!

The pricing starts at USD $499 for the lowest end model!! Full Pricing List here!

Pros

1. It’s super thin
2. Long battery lifespan – depends on what you do with it
3. Cheap
4. Large screen
5. Same sensitive multi-touch screen as iPhone or iPod Touch
6. User friendly

Cons

1. No Camera at all – no way of video conferencing so it should be a up sized of iPodTouch instead
2. No news on the multi-tasking – can update in the future
3. Too big to fit into the pants but who cares…hehe.