Everything I've read and heard, is that the low-end Surface will be available late Fall, and the high-end will be available early 2013. So it's not quite vaporware, they're still ironing out the bugs copying Apple, usually takes two years (in this case three years). Pricing will be $1000 at the low end, and $1500 to $2000 at the Pro Surface model. So MS is pricing this higher than the iPad. They won't make a dent in Apple's market share for a few years until MS can bring the price down to Apple's level. That is where MS is having problems.
If the low-end ARM based model comes in at 1000 the product is sunk before it hits the beach. No way they do that. I am guessing the 32Gb Arm model to come in at 4-500.