We've got to hand it down to Apple. Every time they set their eyes on a new, innovative product concept - the world inspects it with magnifying glasses. The amount of attention it receives is possibly comparable to superstars like David Beckham or Sachin Tendulkar.
Exactly three years ago, the world cheered Apple as they launched their iPhone, which later went onto receive iconic success. But it's not like Apple has hit the nail on the head with every product they've launched. Products like the Apple TV or the Macbook Air weren't as well received, and appeal only to a small percentage of the audience.
On January 27, Apple will hopefully banish all rumours cluttering the internet by unveiling the Apple Tablet. Till now, the media has been keenly following any dope about this mystical product. So without further ado, let us look into what the fuss is all about.

The Name
Popularly searched on the internet as the Apple Tablet, this device could possibly be called the iSlate or iPad - following the "iProductName" nomenclature they've had for many of their computing devices.
What is it?
Steve Jobs had clearly mentioned a few years ago that they had no interest in creating cheap, under-powered devices like the netbook. Looking at Apple's portable computing devices, there's an empty gap in their portfolio between their iPhone and the entry-level Macbook laptop. Thus it seems that Apple would place the Apple Tablet in between these two.
Tablet computers are not a new invention. We've seen them in different avatars like the swivel-screened laptops or more recently, MIDs (Mobile Internet Devices). A tablet PC is a portable computer that uses a touchscreen for user input and is traditionally operated by a stylus. But knowing Apple, their device should be primarily usable with fingers.
Tell me more about the device
The Apple Tablet will supposedly be based on the same design concept as the iPhone or iPod Touch. Its face will be occupied by an eight to ten inch touchscreen. It will be thinner and lighter than a Macbook, and will hence be easier to carry in a backpack, but too large to be carried in the pocket. But it's not like people are cool with the idea of carrying PCs in their pockets anyway, right?
There was a big debate whether it will run a full-fledged OS X like other Macs or a stripped down version like the one in the iPhone. The balance now seems to tilt in the favour of the latter. That way Apple gets to have more control over the content being delivered on this device. You do know how they like to deliver the final judgment over what goes on the App Store and what doesn't.
There's again a difference of opinion between what internals will it possess. Will it be a typical Intel Core 2 Duo based platform used in Macbooks or an ARM-based processor used in the iPhone? Again, the scale tips towards the latter here - since it will be running an iPhone-like OS. It will sport a vastly higher resolution display than the iPhone and will connect to the internet via Wi-Fi or 3G (thanks to a built-in SIM card slot). GPS and Bluetooth modules can also be assumed to find their way into this device.
Another surprising but possibly sensible addition is a camera for video-conferencing. It is odd that Apple still didn't include one in the iPhone till now. But anyway, the tablet is not going to be a replacement for your cell-phone. Maybe Apple thinks that having this sort of audio-visual communication would set it apart from the iPhone.