[Asus Transformer TF701] snake2332:
I have both tablets and had to choose between them. For me, the Note wins...by a lot.

The supposed lag that a couple people have mentioned with the Note seems bogus to me. Both tablets are fast and only show lag in the same, rare areas. The TouchWiz launcher is surely more susceptible to lag than the Asus launcher, but only in a couple areas. If you use a different launcher, which I'm guessing most people reading XDA do, than both devices feel virtually identical in normal use. They both take 2 seconds to recognize an orientation change. They both take 2 seconds to show you the screen when you wake it up. They both have sub-30fps for the animation when a graphically-intensive app minimizes/maximizes (goes in to and comes out of standby, whatever you wanna call it).

So the SoC's are pretty close in performance...that is until you fire up some 3D games. Basically the Tegra4 just can't drive the WQXGA resolution in lots (most?) 3D games, at least not YET. Maybe some magic improvement will be made in the near future, but for now it's just not very good at all. And you gotta love how devs don't give you graphic settings in most games (probably because they are all iOS ports). Several games I want to play are unable to pull 30 fps on the TF701. I heard that there is an app that will force games to specific resolutions, so that could help but obviously we want to play at the native res.

I made a post here with screenshots of the framerates on my Note, asking for rooted TF701 users to post screenshots from theirs: http://xdaforums.com/showpost.php?p=47390158&postcount=9

Here's a little comparison I made earlier:

TF701 advantages over the Note 10.1:

Price - $150 cheaper for 32GB model

Keyboard dock - The transformer dock is excellent with next-to-nothing comparable on other tablets. However, quality of the new dock is lacking and was apparently pulled from amazon.com, maybe to address the quality control (rumor?).

Aluminum shell - If you prefer metal over plastic, this is a good thing. It feels nicer than the hard plastic of the Note.

Form-factor - Though the design is dated, I actually prefer the bigger bezel and tapered edges compared to the Note's small bezel and iPad1/GalaxyS4-style squared edges. The TF701 feels easier to hold even though it's heavier.

Easy-to-unlock bootloader - The Note 10.1 is rootable but I haven't looked into it yet. Meanwhile, Asus gives you the bootloader unlocking tool, so it's easy as long as you don't mind voiding your warranty. Not really sure if this is such a great advantage honestly.

Better support from XDA - Apparently the Exynos chips are hard to work with and get less attention here on XDA, so the Tegra4 based TF701 should see more community support.

Note 10.1 advantages over TF701:

Faster 3D graphics - The TF701 is just a hair too slow for most of the games (under 25 fps in many games) I tried, while the Note 10.1 is consistently faster and is just fast enough for most of the games I tried (consistently over or around 30 fps).

Better Speakers - Stereo speakers > mono speaker. Also, edge-mounted > rear-mounted.

IR blaster - Handy for controlling home theater devices and other stuff.

Smaller & lighter - 45g lighter is less than 10%, but it's still noticeable. The short-edge bezels are about half the width of the TF701's, while the long-edge bezels are about 2/3rds the width.

Screen - It's brighter. Despite gsmarena claiming 755 nits from the TF701 (ASUS Transformer Pad TF701T review: Full throttle - GSMArena.com), it is not quite as bright as the Note 10.1. With the TF701 using "outdoor mode" and set to 50% brightness, and the Note set to 50% brightness, the Note is WAY brighter, not like that matters or is telling us anything about the max brightness. The TF701 is just really dim at 50% and below for whatever reason even with outdoor mode on, but that's just the scale Asus decided on. With both set to 100% with no power saving, the difference is not much, but the Note is still brighter (and neither one is anywhere near 755 nits).

The contrast levels are clearly better on the Note, mostly due to darker black levels and more saturation. Colors are better on the Note, too. The colors on the TF701 are washed-out until you set it to VIVID color, then they are more saturated but not very accurate (reds look pale still and seem to bleed). On auto-brightness, the TF701 jumps around abruptly in brightness, which wouldn't bother me except it jumps too much at-a-time to where it's distracting and annnoying. Meanwhile, the Note has a smooth, gradual brightness change to it like most devices I've used.

Gorilla Glass 3 in the Note, no one seems sure of what the Asus uses, maybe GG2?

Not sure about reflectiveness. They both seem pretty dang reflective to me. Does gorilla glass 3 offer any anti-reflectiveness?

RAM - 3GB vs 2GB

Camera - The Note snaps better pics than the TF701 in my fluorescently-lit office setting. I didn't take them outside to test. The TF701 pics were really grainy and smudgey, while the Note pics were not nearly as grainy and not smudgey at all, though still weren't that great. I was using default settings on each tablet, so auto-everything. The Note also takes pics faster when using burst. Plus it has a flash and 8MP versus no flash and 5MP. The MP don't really matter here since the 5MP pics (actually 4MP when doing 16:10) fit the tablet screen perfectly (I think), so 5MP is enough for me.

Haptic feedback - TF701 has none, just like iPad. I miss it when typing especially, but also when gaming.

MicroUSB vs proprietary - I know a microUSB port wouldn't really work for the TF701 because of the docking needs, but they could have put a microUSB port elsewhere on the tablet for convenience. The Note has moved away from the proprietary port in favor of microUSB, which makes it more convenient to charge or transfer files since I have a dozen microUSB cables and chargers placed strategically around the house and in backpacks and whatnot.

S-Pen - Some find this to be a gimmick, but it can be pretty useful. It gives me a good excuse to bring it to meetings for taking notes. Useful if you can't or don't want to touch the screen, like when eating, but you need to interact with the device.

Multi-window - I know the Asus has some floating widgets that kind of act like multi-window, but it's not quite as useful. Granted, I might never utilize multi-window, but maybe I will. This is kind of a gimmicky feature, but probably works well since it has 3GB of RAM to play with.

Availability - The TF701 suddenly showed up on newegg.com and bestbuy.com on Monday this week. Best Buy isn't going to carry any TF701's in-store. Pretty sure Target and other box-stores won't carry it either, so good luck getting your hands on one prior to purchasing. Meanwhile the Note 10.1 is at all the usual stores. If the TF701 was at a store where I could have tested some 3D games, I would have known about the poor performance and wouldn't be paying a restocking fee to Newegg. Oh well, live and learn.

I've bought and been disappointed by the top two Transformers now (TF700 & TF701), so I'd like to think I've learned and will not buy another Asus tablet. I should have waited for some more testimony from TF701 owners before purchasing it I guess. Benchmarks and anecdotal exaggerations of the TF701's performance should not have convinced me. There just isn't much info out there about the framerates of 3d games on the TF701. The closest thing to that is a post I made where I show the FPS of several games on my Note, but I can't install FPS Meter on the TF701 since it requires root and I'm returning it so I can't root it. I am a pretty good estimate of FPS though, and I can tell you the TF701 gets trounced in several games by the Note, and doesn't best the Note in any games I tried. IronMan3, for example, plays horribly on the TF701, going under 10 fps during gameplay frequently (every time you fly by a reflective tanker truck at stuff) and looks like a slideshow 4 fps during part of the intro sequence, while the Note pulls over 20 fps in the same intro sequence.