I was thinking about this too the other day so I watch the CNET video on the comparison...
Asethically Ipad is sweet looking (Xoom isn't too bad either). Ipad is thinner and weighs less than the Xoom.
The iPad OS > Honey comb (or Andriod 3.0) if you aren't technology affluent. So if you are technologicall y challenged, iPad is for you. If not then, I would say iPad OS = Honey comb.
Hardware wise Xoom>iPad...dual core processor, more RAM, higher resolution screen, higher quality camera, and external memory...but I'm guessing this will drain battery life.
iPad applications>Android hands down...
Xoom has flash so you get a fuller experience from the web. iPad...not so much.
Price looks like it smiliar between the two models you are looking at.