I know there are probably reviews like this all over, but I figured one more person's experience couldn't hurt.
I picked up the 32GB version about four months ago (start of the semester) both as a textbook replacement and just to have a mobile device (I've only ever had a dumb phone, and I'm a programming student looking to get into Android and web development), and I absolutely loved it. It has good battery life, good power, a descent camera, and a good screen. It's a well-rounded, all-in-one package for a very reasonable price. About the only thing it's missing is an SD slot of some kind, but you can supplement it with the proper usb dongles.
That said, the cheap price comes at the cost of manufacturing quality. I exchanged my first one within two weeks because one of the speakers buzzed very noticeably at certain frequencies (not secured properly to the case). A month ago, it just stopped working (stuck on the Google boot screen). I tried resetting it, flashing back to the Google factory image; nothing worked. I finally sent it in to ASUS (the RMA process was fairly painless) and am waiting for it to come back.
So while it's a great device, it's not as great for dependability. But, if you're not worried about possibly having to send it in, I wholly recommend it as a small-form tablet. Hopefully these refurbs have the initial kinks taken care of.