The Iconia Tab 8W runs Windows 8.1 on an Intel Atom Z3735G CPU with 1GB RAM and 32 GB internal storage, and it features an 8" display with a screen resolution of 1280 x 800.
It also has 2 cameras (resolution unknown), Wifi, Bluetooth, a microSD card slot, a microHDMO port, and it weighs in at about 13 ounces. According to past reports from Acer, this tablet should get up to 8 hours of battery life.
The Iconia Tab 8W is but the latest tablet to ship with the Bay Trail Z3735G chip. this is one of Intel's newer and cheaper Atom chips, and it was developed with low end Windows tablets in mind - in particular the type of tablet that would barely meet the minimum hardware specs (the 1GB/16GB rule).
It's not the first tablet to aim for the bottom, and it is by no means the cheapest (not even for Windows 8 tablets). There's also the $99 Excite Go from Toshiba, which wastes a very powerful chip in the body of a budget Android tablet.