Why I'm not paying $700 for the Motorola XOOM

I have the rare advantage of having real hands-on time with the Motorola XOOM, as evidenced in a brief video. The video is much too short, having been shut down by the Verizon ninjas who realized the Galaxy Tab in my hands was a 7-inch viewfinder for the video I was recording (admittedly illicitly). My time with the XOOM left me notably impressed, but not enough to pay that hefty a price for one of my own.
The build quality of the XOOM felt good, and the non-slippery coating of the device felt nice in the hand. The Honeycomb user interface is not only well-designed for the larger display of the tablet, it is actually fun to use. Everything about the XOOM speaks quality and innovation.
So why am I unwilling to pay $700 for one? Two reasons: size and value. While the 10.1-inch display of the XOOM is good for many things, I prefer a smaller (7-inch) display to make the device more portable. I carry the Galaxy Tab around most everywhere, but wouldn't do that with the larger XOOM. That leads me to the value situation, if I can't carry the device around most of the time, I'm not going to get enough use out of it to justify paying the price. I justified the $400 I paid for the Tab, but at almost double that the XOOM doesn't present enough of a value proposition to get my money.
I realize this is a purely personal reaction to the XOOM, and that many folks will get plenty of value out of it at that price. I also freely admit that due to my addiction to gadgets of all types, I am subject to change my mind about the XOOM at a future time.