The Fire is a 7-inch tablet/e-reader with an IPS display running at 1024x600, powered by a 1GHz dual-core TI OMAP4 processor and a heavily modified version of Android. Of course, it will be lacking any and all Google Apps, including the official Android Market. As expected, the Fire's go-to app store will be Amazon's official Appstore, which will run alongside other Amazon-specific apps like Cloud Player (Amazon MP3), Prime, Kindle (of course), and Amazon Instant Video.
Update: The Fire's landing page is now live, and filled with tons of pictures and additional details. Aside from the above mentioned specs, the Fire will come with 8GB of internal storage, but considering it's so heavily reliant on Amazon services, nearly all of your data will be held in Amazon's Cloud Drive. It also features and "extra durable display," which has been "chemically strengthened to be 20 times stiffer and 30 times harder than plastic." Basically, it shouldn't break or scratch easily. Win.
As far as normal tablet activities are concerned, the Fire will also feature and all-in-one email hub, capable of managing multiple services like Gmail, Yahoo!, Hotmail, and AOL, in one, combined inbox. On the web-browsing front, Amazon has equipped the fire with a special cloud-accelerated browser called Amazon Silk, which utilizes Amazon's EC2 computing cloud to take the bulk of the workload off of your device. Check it out:
Battery life isn't a question, either -- Amazon put everything out on the table. The Fire should get around 8 hours of continuous reading use or 7.5 hours of locally stored video playback, so it's equivalent to most Android tablets on the market today.
Looking to not only out-power Barnes & Noble's Nook Color, the Fire is will also out-price its main competitor, coming in at a mere $199. The Fire is available for pre-order today with an expected ship date in mid-November.