So I found a small in-home laptop business that has a HP tablet pc for sale for $160. It's got an Intel Pentium dual core processor 1.8 ghz, 1 gb RAM (can upgrade to 2gb for extra $30), 80 HDD. I know that it doesn't have the best of specs for a computer, but I'm a college student and think a tablet pc would be immensely useful. Does anyone have any experience with tablet pcs? Anyone think this would be a good deal or should I wait until I can afford a newer model?

Having dealt with similarly spec'd tablet/notebook hybrids from a bygon era, I'd wish them on nobody, especially if running Windows XP Tablet Edition.

They are kludge and near-useless.

This model I think has been updated to have Windows 7 Ultimate edition on it. Does that make a difference?

No, not really. The hardware is crap and Windows is kludge with a touch screen.