This could be it! According to Gizmodo of Austrailia who have somehow gained access to a training document. This bit of info comes to us just before Google I/O where this tablet is to be announced!
It will have
- 7″ IPS display with 178 degree viewing angles (1280×800 resolution)
- 8GB and 16GB storage options, priced at $199 and $249
- 1.3GHz NVIDIA Tegra 3 processor
- 1GB RAM
- Jelly Bean (Android 4.1)
- NFC with Google Wallet loaded
- 1.2MP front camera
- 9 hours of battery life
This sounds about right, but I guess we wont be for sure until Google I/O in three days.