$700 seems a bit low, it'll probably retail for $999. Right now the only thing we know for sure is that the Apple tablet will be a monumental step forward for the whole of humanity and usher in a new era by which all previous eras now seem pitiful and stupid.
If you were to scale that thing up to tablet size both the face and volume buttons would be huge and the resolution would have to be ridiculously high for the menu bar to be that small. Also, there's no chance of it just using standard OS X without any UI changes.