Let's hope they've done better than that. It would be a shame if, after all this time, the best they can do is only as good as the competition's last-year's offering.
For a Microsoft tablet to succeed, it will have to be AT LEAST better than the iPad-2 in every respect except iOS. And that's quite possible given Microsoft's considerable resources.
I personally don't think Windows 8 will be the equal of iOS out of the gate, though (like Windows against OS-X) it deserves a chance to mature and stabilize. Windows 7 is a great OS. Windows 8 ... we'll see.