I just bought one at Walmart and will be returning it tomorrow. I just don't like the display. I know a different launcher can fix text size (to a degree), but the viewing angle is just bad. My "normal" view is portrait, and it changes just from one of my eyes to the other. Colors just seem to fluctuate with only slight movement. My Optimus-V display looks better (IMO), you'd think smaller, but nominal text size isn't much different! Speed is very good on the Acer!
This does have 512mb RAM, since it shows 456mb available. You only have about 5.3 GB storage remaining from the 8 gb advertised. I didn't like the very limited "screen" settings, basically only brightness. Personally I "thought" I would like a 7" form being much more portable, but after playing with it (and almost dropping it), it does weight a bit and really isn't that much more portable than a 10" screen. I may try the Transformer next (on sale at Frys with free case).