The most recent Apple tablet rumours to hit pegged the 9.6-inch device at $800 with a February launch.

Now iLounge's "reliable" Apple source - that correctly predicted the firth-gen nano and iPhone 3GS - has come up with fresh data.

According to iLounge, who dubs the device the "iPad", the latest version of three prototypes has a 10.7-inch screen, runs the iPhone OS and looks like a big iPhone 3G with a curved back.

The source suggests it will come in two versions - with and without 3G - but both models will get 480 x 320 pixel displays.

Fitting in with Apple's no-thanks stance on netbooks, iLounge says it is not meant as a netbook competitor but a media player with "light communications" abilities:

"It is designed to expand the iPhone and iPod touch media concept to its next potential level: as a slate-like replacement for books and magazines, plus all of the media, gaming, app, and web functionality of the iPhone and iPod touch", states the site.

Said to be awaiting "final green light" from Apple boss Steve jobs - with an estimated 80% chance of success - iLounge predicts a 19 January annoucement with some serious hype before a retail debut in the summer.

We will keep you posted.