If there's anything consistently consistent about the purported Apple tablet, it's that it's said to be, in essence, a larger iPhone. Expanding on this, Boy Genius Report cites its "close Apple contact" that claims the device is "an iPhone on steroids."
Like its iPhone brethren, the tablet is said to sport an ARM processor, adding the caveat that the processor will be "incredibly fast." Also according to the report, the tablet will support multi-touch gestures that are said to be "out of control." Back in 2005, Apple acquired FingerWorks, a company that specialized in gesture-based computing. According to former Apple engineers, FingerWorks will have its footprint -- er, fingerprints -- on the purported tablet.
The meat behind these potatoes is said to be the iPhone OS kernel. For this reason, there hasn't been an updated build of the iPhone OS out of fears that tablet-related references in the code would leak.