January 27 is the day. At least, that's what it says in Apple's cryptic -- as usual -- invitation sent out to the press. They phrased the invite as "Come see our latest creation" followed by the time and date. The event will be held at San Francisco's Yerba Buena Center for the Arts Theater, Wednesday at 10 a.m.

Rumors and speculations about the iTablet release

Of course, in typical human fashion, we can't help but speculate about the event. Most people are of the belief that January 27 is the day Apple releases its much talked about "tablet." Some people are dubbing it as the iTablet while other prefer the moniker iSlate. No matter what Apple calls it, the sure thing is that it will be big.

The invitation in itself caused speculation. It shows the Apple logo with splotches of paint as background. Some people are leaning towards the theory that whatever Apple unveils, it will focus more on art in technology. Perhaps more about music, videos, and movies.

A recent story on Fox News reveals that the iSlate will be the main focus of the January 27 event. It seems that the source is an Apple insider, giving a sense of credibility to the story. Additionally, the source also mentions the introduction of the iPhone OS 4.0 and iLife 2010. Hopefully, these gadgets would be configured for touch screen controls.

Speculations about the specs of Apple's latest gadget

Rumors reveal that the tablet will be around 10.7 inches and will have a higher resolution compared to the iPod Touch screen. They also say that one version will come with 3G networking. However, Boy Genius Report speculates upon a smaller iSlate size -- 7 inches. But, the rumors are also pointing towards two versions of the iSlate. One with the 3G networking and one without. Another rumor has also been shot down by others, specifically pertaining to the use of an OLED screen.

An iPhone and iPod blog, ILounge, cites a source that says that the "iSlate" will serve as a replacement for books and magazine.

But how much will it cost? Rumors state prices below $1000, possibly between 600 to 900 dollars. This is probably why the OLED screen theory has become unlikely, as mentioned previously. From what we know, OLED screens are still on the expensive side and if the price rumors are true, then alternative screens will definitely be used.

With so many speculations, it will be difficult to separate the likely from the out-of-this-world. But then again, recent years have shown us that technology knows no bounds. If the iSlate is everything rumors say it is, then it will serve much much more purposes than being a portable e-book reader. People might be surprised to find that Apple will present an all-around and extremely portable computer.

It's sure that gadget addicts out there can't wait for January 27. Whatever it is, it's sure to be worth the wait.