Contrary to some people here who think their own needs in some way represent everyone's needs, I do see a place for a netbook + tablet hybrid, even an ARM-based version of it, especially one with Microsoft Office installed.
An iPad is a content delivery platform, and not always an optimal one at that, as the lack of physical controls makes it unsuitable for most kinds of hardcore handheld gaming, and even simpler tasks such as chatting online can be quite unpleasant on the iPad. It's good to deliver media, but unsuitable for anything else. Those are areas where netbooks shine, except netbooks usually don't come with UMTS/LTE connectivity, decent cameras, high-definition displays, or GPSes, whereas tablets do.
As a developer with both kinds of needs, I have to carry both an iPad and a MaBook Pro whenever I leave home for extended periods of time (not to mention an iPhone, but I carry that everywhere) when a proper netbook + tablet solution would suit me perfectly. Unfortunately I've tried many OEM solutions in the past and they all sucked in more than one way such as by lacking mobile connectivity, GPS functionality, using TN screens in devices that are expected to rotate, and relying on crappy resistive touch screens. Assuming that Microsoft does it right, the Ivy Bridge version of Surface will suit my needs perfectly!
The need for a general-purpose netbook + tablet solution is not restricted to my kind of profile, however. For example: how many of you use Pages, Numbers, or Keynote on the iPad? How many of you use Office on the iPad? I doubt that many of you do, because it's impractical without a keyboard clam shell case. And what do you get when you stuff an iPad into a keyboard clam shell case? A netbook + tablet hybrid with a huge battery life! Problem is, the iPad is not designed to be a netbook; it is very far from behind a general purpose computer; you can't connect a mouse or any kind of game controller to it even if you want to (because the bluetooth HID profile on it is restricted to keyboards); you can't attach external drives to it, so you are always limited to its own storage (and no, the cloud is no replacement, you won't be downloading gigabytes of data through your mobile connection only to watch a movie). These are all needs that the ARM version of Surface can address!
I'm glad that, for the first time, Microsoft is actually coming out to (at least try to) show OEMs how they expect it to be done. Will they succeed? Only time will tell! I'm not too hopeful, since Microsoft doesn't seem to have what it takes to pull this kind of stunt, but I am not one to underestimate anyone, and I truly wish that they come up with something great for a change, because I need a proper netbook + tablet hybrid and Apple won't be doing it.