writes "Microsoft has finally revealed the pricing of its upcoming Surface tablet to a small group of journalists, including Time's Harry McCracken, who wrote in an Oct. 16 posting that the device's 32GB version will retail for $499 (or $599 with the flexible keyboard cover) and the 64GB one for $699 (cover included). Preorders will apparently begin by midday Oct. 16. Microsoft unveiled Surface over the summer but kept the pricing a secret until now. That information vacuum led some to hope against hope that Microsoft would attempt something radical and price Surface extraordinarily low—$199, perhaps—in an attempt to undercut Apple's iPad. While that didn't happen, Surface at least matches its biggest rival's low- and high-end price points. The WiFi-only, 16GB version of the iPad retails for $499, while the WiFi-only, 64GB version costs $699 (iPads with a cellular connection cost a bit more)."
A related article at BGR explains why the Surface is Microsoft's latest attempt to re-invent itself