The embargo for the HP TouchPad webOS 3.0 device lifted tonight and there are plenty of reviews now online (linked to below). Review ratings range from 2.5/5 to 7.5/10 and I didn't see a single review that said they would recommend you purchase it over the Apple iPad 2. My question on whether or not there was a compelling reason to buy a TouchPad looks to be answered with a No in the present state.
It seems it is currently a devices just for the serious Palm fan or those that have a major distaste for Apple products. Like the RIM PlayBook there are many things that need to be fixed with updates and developer support, but if HP moves forward as slowly as RIM with the PlayBook this may just be another niche tablet that leaves the tablet market firmly in Apple's hands.