First off, the worst thing you can do is compare this to an ipad. It's not an ipad and wasn't designed to be compared to one. It is a droid tablet, nothing more and nothing less. It comes with a 1Ghz processor which will enable one to do most anything they need a tablet to do. But here is why I think it is BETTER than an ipad and a more intelligent purchase.
I bought three of these coby's for Christmas for my 6, 9, and 12 year old daughters. I bought a 10" (MID1126), and two 8" (MID8126) upper end Coby's for the price I would have paid for one ipad. Now don't get me wrong, I own many apple products- three ipod touches, two nano's, a shuffle, and the best ipod ever made- the last ipod video 30gb which came before all the proprietary hookups.
The Coby name is symbolic of electronic toys for kids, but this isn't the case with these upper end Coby tablets. They are built very well and I have read that there is a piece of stainless steel that runs the length of the tablet inside, result being they don't flex in your hand. The displays are very nice, however they are not in the league of ipads or other $500 samsung, toshiba, or motorola tablets. However, they are a fraction of the cost and still look absolutely great with no fading viewing angles I've read some high end toshiba tablets suffer from.
Let's talk about what they have over the ipad- versatility. An HDMI video out, a 2.0 usb port with a full-size usb jumper (adapter), microSD card input and two stereo speakers vs one on ipad. A person can run video out of this to their HDTV, hook up a keyboard or monitor, add memory with the microSD card, etc. Apple has one hookup- and it cannot be used for any of those things.
As far as the full android market, it can be added in 5 minutes (youtube has a great video, type in "android market on coby kyros") with no mods (rooting) required. I added it on all three of my tablets. But google is onto this and has removed all the most popular apps such as facebook. They know when one is registering an unlicensed device thru the processing chip that is being registered. But you can still get a plethora of apps from them. However, the amazon market can be downloaded straight from their website and has the jist of apps one needs along with the two other app shops that come preinstalled on all Coby tablets where you can get the facebook for android app (Getjar app store).
If you're looking for the tablet experience, but don't want to be part of the sheep herd drinking the $500-$600 ipad or droid tablet kool-aid, buy one of these upper end Coby's and I think you will be satisfied. With all the upgrades on the horizon for the tablet market in the next year or two, I think it would be ignorant to waste so many hundreds on a piece that will be obsolete in a year or two. Whether you want a capacitive touchscreen (MID1126) that is more responsive or a resistive (MID8126) which is more durable but a bit less accurate but comes with a stylus if you wish to use in lieu of your finger, I think the Coby's serve a role that most consumers will appreciate with money left over for another gadget.
edit: returned all three of these Coby tablets, they are junk!! go with the acer iconia 7", it's the best android tablet available today.