@Heywood_J: I feel what you're saying, but the form factor and convenience of being able to compose songs while leaning back on your couch is very nice, not to mention the portability. I made a few tunes on the beach a few months ago just sampling the environment.

You can always bounce it back to your serious TDM system with uber DSP plugins later. If you spend a few days with NanoStudio on an iPad, you'll see that it's very powerful (not quite a DAW replacement though). I've heard some world-class tunes composed, mixed and "mastered" 100% in NanoStudio.

My dream though, would be to run Ableton Live on the Intel Surface with full multi-touch. It's going to be a very good time to be making music in the coming years.