Second Apple iSlate tablet rumor of the day - anyone would think it was slow in the gadget world post-CES - and according to the latest source we should basically be expecting an "iPhone on steroids". The BGR is reporting on a "close Apple connect" of theirs with a decent track-record, who claims iSlate development is to blame for Apple not releasing an updated iPhone OS build any time recently; apparently there are too many chunks of tablet code and references to the larger-screened device in the new build, which would basically give the game away.
Otherwise the source says that the Apple tablet runs an "incredibly fast" ARM processor - perhaps the recently debuted ARM Cortex A9? - and uses the iPhone kernel, complete with multitouch gestures that are "out of control". We're guessing that's meant in a good way. Oh, and the internal model number is K48AP, just in case Steve Jobs has been whispering that codename into your ear every night and you've been wondering what it might refer to.