Well, I did play with it for about 45 minutes yesterday, and while webOS itself is smooth, I agree some apps felt sluggish. The paratroopers game, specially, you could really see the stuttering while watching them jump off the plane -the planes themselves slid across the sky really jittery.
But the rest, like card animations, default apps (calendar -yes, it was smooth, world's better than the original Pre at launch; contacts, memos, setting screens, launcher windows, etc) they were all very smooth.
True, not buttery smooth as the iPad/iPad 2 -in a strike of back luck, the iPad 2 demo is literally within arm's reach, so you can just step back a bit, have two people use the tablets and compare. It's really striking how smooth iOS really is.
I honestly hope all that talk about HP (as per HP's VP Richard Kerris' hearsay comments) is really working on webOS updates to address that.
We'll see. I'm still getting up tomorrow @10am and picking up my pre-ordered TouchPad.