It certainly seems to be 1GHz:
Processor
1GHz Apple A4 custom-designed, high-performance, low-power system-on-a-chip
http://www.apple.com/ipad/specs/
but multi-core (really? Not just "dual core" but "multi-core", like it could be a quad or something?) seems unlikely - or they would surely have touted that already. This is of interest:
Windows system requirements
PC with USB 2.0 port
Windows 7; Windows Vista; or Windows XP Home or Professional with Service Pack 3 or later
So - it's supposedly Windows XP compatible. Does Microsoft have an ARM-compatible port of XP? Or Vista and 7 for that matter?
Up to 10 hours of surfing the web on Wi-Fi, watching video, or listening to music
Steve said something like "it's got to be BETTER at something than either phones or notebooks, to get a market - and netbooks aren't better at anything". Well, this COULD be better at surfing the web and/or wastching movies, with a 10 hour battery life *with WiFi in use*.
It's not small enough for me, unless the touchscreen is great for use as a hires graphics tablet - and that isn't there yet from Steve Jobs said.
Built-in 3G and GPS beat Pandora, as does the accelerometer - but missing all the physical controls of the Pandora.
It DOES add another nail in the "dated" feel to the Pandora - but all the most attracive ladies get dated a lot