I was actually contemplating getting the ipad3 when it comes to the stores. What changed my mind? I've talked to a friend and he convinced me how good/powerful the Transformer was as compared to the ipad.
Personally, I think the ipad is a wonderful machine. Especially if you do not intent to fool around much with the operating system. On the other hand, Android operating system allows you for more flexibility if you are one who likes to "hack" into stuff.
I am still learning the android system. So far it has been fun. BTW, I also owned a China Pad. comes with Android 2.1 but was pretty awful to use. The touchscreen sensitivity is horrible. Fortunately, I was successful in upgrading it to Android 2.2 a.k.a. Froyo a couple of days back. The sensitivity of the screen is much improved. However I am unable to sign-in with my google account. Why?? Only time and more hacking will tell.