The first cheap competitors to the iPad that you can actually buy is the $100 7" Eken M001 tablet. The browser seems to be sluggish but the OS seems ok for a $100 device. It's heavier than you think.
Android 1.6.
7" 800x480 resistive screen(bring a stylus).
2 hour battery time, VIA ARM 300mhz CPU, 128mb ram, sd card slot, wifi.
No gpu, usb port, bluetooth or 3g.
It's $100 from dealextreme here:
http://www.dealextreme.com/details.dx/sku.39169A community website with software updates
http://slatedroid.comYou get what you pay for.
1/5th of the usability and 1/5th of the battery time of an iPad.
The word you're looking for is crap.