On paper, at least, it's a slightly emasculated Prime, with a 10-inch IPS (but not Super IPS+) display and 16GB of storage, not 32GB or 64GB. Otherwise, the key specs remain the same: a quad-core Tegra 3 chip, 1GB of RAM, Android 4.0, 1280 x 800 resolution and dual 8MP / 2MP cameras.
ASUS Transformer Pad 300 hands-on -- Engadget
ASUS Transformer Pad 300 hands-on -- Engadget