Apple iPad is an OS X Mobile based tablet where as HP Slate is a Windows 7 powered tablet from HP. HP Slate is yet to be released sometime this year with a support for Adobe Flash and Air. Three dominating features of HP Slate over iPad are its support for multitasking, Flash and camera. Apple's iPhone, iPod Touch and iPad don't offer support for multitasking and Flash. If you want to enjoy multitasking on iPad, you have to first Jailbreak iPad OS 3.2. Here is a comparison chart between iPad and HP Slate covering all important hardware and software aspects of both devices.
[Images via RedmondPie]
Slates Comparison From Gizmodo
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By the time HP will release its tablet, Apple iPad must have dominated most part of the market. If HP wants its tablet to dominate in the market then it should introduce all those features which iPad lacks plus some additional demanding features. It is also possible that Microsoft will release its tablet powered by Windows Phone 7 OS. You can find complete review of iPad here and HP Slate here.