I've had my Transformer for about four weeks now and am enjoying it thoroughly. I was previously using the original iPad. The Transformer is cheaper, faster, lighter, and I like the 16:9 display. The iPad might have a lot more apps right now but in all honesty, I'm not really wanting in that area. I primarily use it to surf the web, read ebooks, watch videos, and play games. There's more than enough quality apps to accomplish this.
The min-HDMI slot is awesome and one of the features I like the most. I had some friends and family over and they were blown away when I attached my Transformer to my HD-TV and showed them YouTube videos and pictures.
My Transformer did not have any noticeable light bleed. It has performed well with suprisingly few force closes from my apps. My only real issue is the YouTube performance through the browser. It struggles mightily but when you watch the same HD video on the native app, it runs fine.
I haven't really used the cameras so if that's a big deal for you, you might want to test it. I also do not have the dock, although a lot of people rave about it. Overall, the build quality is good (I actually prefer the plastic, tactile back to smooth aluminum) and at $399, you'll be hard pressed to find a more capable tablet.