The question that I have to ask is why anyone with a laptop would buy an UMPC. While the idea is cool, the form factor is ugly. The thumb based keyboard is pretty sweet, but at the same time it looks like a compressed tablet.
I was never really into the tablets. If I want to use handwriting, I'll use paper. If I want to have a fully featured computer, I'll carry a laptop. This thing isn't even in the same class as the iPod so all the talk about it being some sort of iPod killer was way off the mark. It would be ignorant for any company to attempt to compete with the iPod at this point. It is a cultural movement now. It would be like trying to compete with Google in search.
I actually applaud Microsoft in that they are not trying to compete with Apple here. I don't know, I think that if Sony were to license the Vista like OS and build the machine it could be cool, but as it is the machine from Asus, and the machine from the other company, or the two UMPCs that are ready for release are hideous.