Re: Too much ?
I have to say I agree with other comments here.
A tablet is not as serious a device, IMHO, as a phone or laptop. A laptop needs to be able to cope with at least semi-serious work, and a phone is going to be used all the time because you have it with you anyway. I see a tablet as a bit of a toy, mostly. It can't replace a laptop as it's not capable enough, it can't replace a smart phone as it's not portable enough. It's great for ebook, watching movies or surfing on the go.
For these tasks, an £80 tab as you can get from the likes of eBuyer/eBay etc. is more than adequate. Sure, the Nexus 7 has better CPU/GPU, and will likely be more responsive & perform better, but £80 better?
Had they included a 3G modem and an SD slot it may have been worth it at that price. Without, I'd go for a cheaper model.
BTW, this is the tab I'm thinking of by comparison: http://www.ebuyer.com/386278-sumvision-astro-7-tablet-pc-astro-7
OK, the processing and graphic capabilities are much less, but it's half the price. I've seen one in action and it performs more than adequately for the sort of use I'd expect people to put it to.