Bill from http://1pad.cn presents an example of the $120 iPad2 copies that are being sold on the Shenzhen Huaqiangbei Electronics Market, and that are being spread as the most popular 9.7" tablet being sold in China, which is the fastest growing tablet and smartphones market. The ARM processors being used are currently mostly the Boxchip A10 and RockchipRK2918 which now have extremely smooth graphics accelerated Android 4.0 Ice Cream Sandwich support. The actual performance of these are above iPad1 and slightly below iPad2, yet they include features such as the HDMI output, USB Host, MicroSD card slots and they run Android software which easily supports as many pirated apk apps as one wants to transfer to the device and install without rooting (of course, many Chinese people don't want to pay the normal prices for apps as people do on the European/American Google Play marketplace). But these tablets do come with the full Google Play Marketplace pre-installed so users can use that if they want. It also comes with a bunch of alternative Chinese marketplaces where all the apks are always free.
Here's a tablet for pen-based productivity, the price is close to $200.
This is getting close to the cheapest price you can find a 7" capacitive ARM Cortex-A8 with Mali-400 graphics powered Ice Cream Sandwich WVGA tablet. I bought 2, because I want to test this more. Let me know in the comments if you may be interested to buy one of these (I may try to organize some group buy of this through my website if there is demand). Let me know in the comments what I should test about this tablet.
The new Boxchip A13 is designed to provide for even cheaper Ice Cream Sandwich tablets, now reaching the sub-$55 price point. By June, http://www.yooe.com.cn says they can sell this one in bulk below 300rmb which is below USD$47! At that price you get a 7" capacitive ICS awesome experience! WVGA at that price, I don't know how much more it costs them to make it a 7" 1024x600 screen. The AllWinner Boxchip A13 removes the HDMI output, otherwise most seems to be the same as the now very popular AllWinner Boxchip A10 based tablet platform! If you are interested to buy this tablet for sub-$55 (any quantity) let me know in the comments (maybe I can find a way to make it a grouped purchase through Hong Kong on my website).
The 9.7" IPS Android Tablet with iPad form factor can be made for cheap (the minimum order quantity is 1000 units).
3Gnet now manufactures several tablets based on the Freescale i.MX51, Boxchip AllWinner A10 ARM Cortex-A8.
Eken.com shows this 10.1" capacitive ICS Android 4.0 tablet, the cost is only $108 per tablet when ordered in a quantity of at least 1000. I don't remember having seen the Boxchip AllWinner ARM processors before. It uses the ARM Mali-400 GPU. It'll start being mass manufactured and delivered in February and later. They can also make a 7" version capacitive Ice Cream Sandwich, ARM Cortex-A8, for $75 in an order quantity of 1000.