I received my Nexus 7 a couple of days ago. My initial impressions are good. I am comparing this unit to my wife's Ipad2 and a cheap android (4.1) tablet I already had. First of all, I wished I had never purchased the cheap android tablet. For the most part it is very frustrating to use, due to the minimal processing power it has. That's the first thing I noticed about the Nexus & - it zings! Things happen the instant a button is touched. Apps load quickly. It's a beautiful thing. The next problem with the cheap tablet is the dismal battery life. I can only get 1-11/2 hrs out it. After an hour on the Nexus I still have 95% charge. Sweet. The cheap tablet did do some things well - like playing videos. But don't ask it to multitask - it fails miserably. The Nexus 7 screen looks great. It compares favoribly with the Ipad2 I think. The responsiveness is good.
On the down side, the Nexus, like the Ipad2, doesn't have an external memory card slot. Of course you can interact with the computer by usb cable and bluetooth, but why not add the card slot? Even the cheap tablet had a miniSD card slot.
I bought the 16g version of the Nexus 7, directly from Google. I received the unit in 3 days. It is package nicely, but it took me awhile to slip off the out covering of the box - it was on pretty tight.
For the money, I think the Google Nexus 7 is an excellent product for the price.
Also, the app I developed with Eclipse and Phonegap (Cordova) looks awesome on the Nexus 7.