Microsoft hasn't revealed the specs yet, but we do know the Wifi model runs Windows RT on a 1.7GHz Nvidia Tegra 4 quad-core CPU with 2GB RAM, either 32GB or 64GB storage, and a microSD card slot. The screen measures 10.6", with a resolution of 1920 x 1080. This tablet has Wifi, Bluetooth, and a pair of cameras. The Wifi model retails for $449.
The new Surface 2 is priced about $50 less than a similarly equipped iPad Air with 32GB of Flash storage, but it does not present as good of a value. While the iPad Air has the support of an extensive network of iOS developers, the Surface 2 runs Windows RT and thus is limited to only running apps which have been developed for that particular version of Windows.
If you are in the market for a Windows tablet, I strongly urge you to get one which runs Windows 8. This will enable you to run legacy Windows apps originally written for Windows 7, WinXP, and earlier versions of Windows. And a Window 8 tablet will also cost less than a Surface tablet, thus presenting a better value in monetary terms if nothing else.