At the 1:22 point you can see that the scrolling response is, to say the least, laggy. If the book app, which is probably internally developed and tuned by Palm, is that unresponsive I can only imagine how slow apps are through its Citrix Receiver enterprise solution might be. The calendar and email apps looked snappy enough.
I like the cards interface much better than iOS or Android. In general I like the design aesthetics of the webOS UI, but I don’t think even a dual-core Qualcomm Snapdragon CPU will be able to overcome the hardware requirements of Flash to make things run smoothly. And without a smoothly running lag-free experience on the TouchPad it will be hard to compete against the iPad 2 and the next one that’s coming out just a few months from now.