This tablet is going to feature Intel's recently announced and cutting edge Bay Trail CPU and run Windows 8.1. Retail is said to be $299.
This tablet has an 8" IPS display with a screen resolution of 1280 x 800. It's built around Intel’s latest Atom quad-core processor for tablets, and it has 2GB of RAM, at least 32GB of storage, and a microSD card slot. There's no mention of the CPU speed, but that will of course depend on the final price tag.
The press release is rather light on details, but it does say that the Miix2 will have a pair of cameras (5MP and 2MP) and optional accessories including a cover case and a stylus for the capacitive touchscreen. It's safe to assume that this tablet probably also has Wifi and Bluetooth.
The Miix2 weighs in at 380 grams and should be able to get up to 7 hours of battery life. That last bit is from Lenovo, and I would bet that it is as fictional as the battery life claims for their other laptops (I own one). Assuming you don't mind using the OS of last resort (aka Windows 8) this tablet should present a decent value in comparison to similarly priced Android tablets.