The screen is a 7" PLS TFT, and the CPU is (according to all accounts I've seen) a TI OMAP 4430, same as the Kindle Fire and Nook Tablet. This should actually be a considerably better performer than the Nvidia Tegra 2, which skipped the Cortex A9's NEON media processor out of space concerns. As far as I'm aware, the Tab 2 will decode 1080p video at 30fps.
However, I'm still a bit more interested in getting my hands on a Tab 7.0 Plus (1.2GHz Exynos 4210 w/ ARM Mali-400MP graphics, as compared to the Tab 2's 1GHz TI OMAP 4430 w/ PowerVR SGX540 graphics).
Cheers!