Have you seen the new Samsung Fascinate? Sure looks like an iPone to me, only with the Android operating system. Today cometh Samsung's Tab tablet. True, it looks more like Dell's wee entry, only a seven inch screen. But, people do like their Kindles so it's probably not a bad idea for Samsung to aim for that before fully taking on iPad.
For students and schools, it means more choices, of course, for good or bad. It also means costs must start to come down. Competition does that.
For developers, here's yet another worry. Your app that came in a 10"iPad, 3"iPhone, 3"Android, now must be scaled to a 7" version. (Maybe those ubiquitous Flash 640x480 apps were right all along.)