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There are a lot of form-factors for hybrids, and while this one may be one of the oldest, it's a design that has stood the test of time. The Twist is definitely a laptop first and tablet second, but a better tablet than the Lenovo's other "notebook first" hybrid, the IdeaPad Yoga. I wasn't a fan of feeling the keyboard on the backside when in tablet mode. The Twist feels better as a tablet, and similar as a notebook - although I prefer the keyboard layout and higher resolution display on the Yoga.
The battery doesn't yield anywhere near the same amount of run time as a traditional ARM tablet or many competing Core i5 Ultrabooks. Lenovo could have included a beefier battery, but at 3.5 pounds the Twist is already hefty for a tablet. Adding more weight would have made the tablet part nearly unusable. Future iterations of the Twist with upcoming fourth generation Core processors from Intel, codenamed Haswell, will be far better from this perspective. Based on what Intel has said about Haswell, it could possibly double the battery life in a machine like this. The current configs also generate a fair amount of heat. You won't cook an egg on it, but your legs will feel noticeably warmer when on your lap.
Right now the Twist is an ideal choice for those who could really use the versatile pivoting screen for more than just the tablet mode. Even just being able to rotate the display in a business meeting instead of the entire laptop can be very handy. It's tablet functionality is useful in certain cases, but it's a bit big and heavey to be used in this way for any significant period of time.
Lenovo's Twist isn't the hybrid to convince the world that one device is better than two; its flaws keep it from shining as a great Ultrabook, let alone a great tablet. Those who already own a tablet should consider Lenovo's X1 Carbon for a superior Ultrabook experience. Anyone looking for a single device solution should consider the versatility of the Twist, but those banking on using it more as a tablet than a laptop may wind up a bit disappointed. All the Twist needs is a slightly higher resolution screen and more efficient processor to be an outstanding hybrid choice. Here's hoping Lenovo iterates later this year with new guts to make that happen.