The rumors have been around for a long time about Hewlett-Packard developing a tablet PC. But amazingly today HP took all the rumors down and debuted the HP Slate 500.

This Windows 7-based tablet features a whopping 8.9-inch screen, 1.86GHz Intel Atom processor, a Crystal HD accelerator for smooth playback on HD videos, 2 GB of RAM, and a 64GB solid state drive.

HP didn’t take any shortcuts when making this tablet, boasting two cameras; a 3-megapixel one on the back, and a VGA camera on the front facing the user. Although the slate has integrated Wi-FI there is still no sign of a 3G connection.

Looking over all the specifications of the slate it makes it the mist powerful table on the market currently, but it also makes it very expensive at $799. Unfortunately HP’s competition is the Apple iPad, and with a price tag like that HP will most likely pick up the business customers and not go after the iPad until they can drop their price.

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