After more than a month of use heres my verdict:
the Acer Tab A500 can do the usual stuff that other tabs can, like:
general use – great for reading webpages, twitter feeds, cbr(comic books), pdf etc
video playback – is fair.. depending on what app your using(players with gpu support can take advantage of the tegra)
gaming – until the tegra 3 only games come along.. this is pretty much as good as the best.
hdmi out – self explainatory
(havn't tried coz i have no tv or monitor to try it with 😛 )
art – as a designer/illustrator this is a major boon for me. coupled with Autodesk Sketchbook pro and Adobe Ideas.. i've already started using it in my actual art workflow.
cameras – have only used them(front and rear) for skype and putting a photograph into one of the art apps(ideas and sketchbook) for tracing. worked well for that.
stuff it can do that other tabs can't:
standard usb port: with the honeycomb 3.2 update it can play videos and other media from an external hdd or pen drive.
potentially unlimited storage: i keep almost all my movies on a pen drive or my 1tb portable.. and can play them on the tab via the standard usb port.. no need for cumbersome adapters(see this if you don't believe me)
Acer gives you 3 games (preloaded). when you go to the gameloft site you get 3 more premium(thd grade) games free.
so if your a gamer(like me).. this is a smarter choice than even the transformer(based on a few gripes i heard firsthand about this from transformer and xoom owners)..
lots of hacks and roms and support on XDA forums.