sorry for this long cut/paste but I feel it explains what webos is all about very well. This was taken from the comments in the link that someone posted earlier (http://thisismynext.com/2011/08/02/touchpad-update-speed-stability-questions/):
HP TouchPad - Things I really Like and Things that Could Be Better:
1. Microsoft Exchange - I can run multiple Microsoft Exchange accounts in full profile (calendar, contacts, address book) without any issue.
2. webOS Synergy -integrates multiple accounts into intelligent consolidated profiles based on overlap. For example, when any of my LinkedIn contacts updates his/her job title, my contacts change automagically.
3. Multi-Dropbox - I can run 2+ Dropbox accounts simultaneously on the device. This isn't easy to do even on a desktop, but webOS was architected from the ground up to work with the cloud seamlessly.
4. Free storage - TouchPad owners get 50GB of free Box.net secure cloud storage for life, a great deal worth at least $10 per month or $240 over 2 years.
5. Background video - not everything playing on video needs to be watched with undivided attention, sometimes you just want to listen. It's nice that I can run a Flash video in a card in the background while doing email. True multitasking by choice.
6. Drafts - I can have several draft emails open at the same time, this is a more natural way to work, and you don’t need to press buttons to move in-between them; I can also open emails embedded in other emails.
7. Signatures - in webOS email, all your individual mailboxes have their own settings and signatures. So you can have a casual signature for personal and professional signature for work email.
8. Printing - works like magic out of the box with wireless HP printers or HP printers on a network. No setup needed, just auto-discover and go. It's the fastest I've ever test printed on a print-connected device.
9. Skype - is built into the OS, no app needed, plus you can load all your messaging contacts, calendars from Google, Exchange, Yahoo, AIM, Skype and LinkedIn leveraging webOS Synergy to create a unified view.
10. USB mounting - I can mount my HP TouchPad as a USB drive on any computer using a standard USB/microUSB cable. Sometimes, you need to move a whole folder of stuff and this is the easiest and quickest way to do it. You can access your saved files and folders on the device quite easily.
11. Email Attachments - You can attach multiple items to emails you're composing the same way you would on a desktop. Just find the right folder, or Dropbox, and simply select the file.
12. Sound - the speakers are amazing, actually better than some laptop speakers and the front facing camera, mike and speakerphone for video conferencing is very good.
13. Gestures - there are parts of the screen that are used to create special commands for navigation, very fluid.
14. Openness - Even though the device has a secure OS, instructions on how to "jailbreak" the device (to enhance its features unofficially) are available and even advertised in August's highlights in the official HP App Catalog -anyone can put the device in developer mode and tinker with it. You cannot "brick" a TouchPad.
What Could Be Better:
1. Camera -It would have been great to have a rear camera too. Currently the front facing camera only works for Skype, hopefully the API will be opened up to other services too.
2. Size and shiny finish -the device is thicker, this is a tradeoff to allow for inclusion of a wireless charging induction coil. Shiny finish bothered me until I put it in the standard case. Problem solved.
3. Lag and hardware acceleration -webOS still runs a little bit slower than iOS, but 3.02 is a definite improvement on 3.0 -there must be another big update soon because doc editing still isn't there.
4. Applications - webOS has few applications right now but is doing a lot of the right technical things to develop a long term following. Synergy APIs eliminate the need for many basic apps, but more progress is needed.
5. Country App Catalog lock - I understand that once you set your country for the App Catalog, it can't changed and you can never shop in a different country store. This sounds terrible and needs a fix.
6. web Optimization - there are still some things they are working out in the browser, video plays much better but some things aren't yet perfect with the way some web pages render.
7. MobileMe "cloud" contacts don't sync across in Synergy; I suspect that this isn't HP's fault.