To be honest, although the Motorola has some better specs (better cameras, more ram, for example), you really can't beat the iPad. I believe that specs aren't everything, it's more the experience than anything else. The iPad has 65000 apps available, and that's not including all of the iPhone apps it can run as well. And don't let people tell you that the iPad is just a big iPod touch - cause it's really much more. Anyone who owns an iPad can tell you this. I have read reviews on the Xoom and apparently it's a bit laggy/sluggish, so I don't know.
However, if you depend on things like flash, and don't like Apple's closed "world" than you probably shouldn't get it.
However, I know that I'm getting an iPad 2 this Friday because I have waited a YEAR for this thing (since I never get first generation devices) and boy am I excited.