If you need the full OS experience of Windows 7/8, just go with a laptop.
Word processing apps are decent, but nothing like MS Office. Barely any apps recognize the full functionality of external keyboards, which can get pretty tiresome. Evernote is the only one I've tried that recognizes CTRL + C/V/A--Kingsoft Office and OfficeSuite don't, and none recognize ctrl + z (pretty damn necessary in a word processor). Pretty cumbersome. If you need programs like Photoshop, you'll never find a decent app alternative. If you need a statistical package, you're outta luck.
But if you're just going to use it to consume media, take notes, stay organized, browse the web, etc, an android tablet will do just fine. As frustrated as I am with the limitation of apps out there, I know developers are working on better stuff as we speak. So hopefully in a year or two, we'll get some serious MS Office alternatives? Maybe Photoshop will make their app better?