Only played with it for a little while but my first thoughts are:

Good:

Cheap! Around £90 delivered
Small but useable screen
Has a micro-sd slot
Ice cream sandwich!

Bad:

Touch screen not as responsive as it could be. Mainly a problem when typing...
Many apps are still not ice cream sandwich compatible and/or unstable

Ugly:

Wifi performance is awful! If I'm more than 10 metres away from the ap the signal drops to nearly zero!
Probably an android bug but I can't sync calendars or contacts, only email

Verdict:

Thank god it's cheap..... if the touchscreen, wifi and sync issues can be addressed with software updates it's a brilliant basic tablet. If not, a decent paperweight.