I just got a Note II (phablet), I love it. I already decided I would wait for the next Galaxy Note Tablet. I was expecting it to be a Note 10.1 with 1080 or 1200 x 1920xresolution or maybe a loaded 7.7". But 1280 x 800 7"? Now I think I will wait to decide.
7 inches is too small for a note tablet. I have the Note 10.1 and would honestly love to see a 12 to 14 inch version. I primarily draw on mine so the extra surface area would be welcome. At 7 inches I feel like the tools would take up too much space on the screen. Perhaps Sketchbook Pro would still be ok because you can hide the tools.
sd card, keep the resolution at this to keep the price down and compete with nexus 7 prices and i'll buy one, put a 1920x1080 screen on it and keep the specs/sd slot and i'd be willing to pay more than nexus 7 prices for it... but not sure how much more