Once again thanks to IBMThink from Germany, whom dug up the soon to be released ThinkPad Helix specification from a Chinese user manual (once again publicly available). The full name of the new product is the ThinkPad X1 Helix, according to the manual the new machine would have the following specification.
So basically the ThinkPad X1 Helix would be a beefed up version of the ThinkPad Tablet 2 that could compete with Microsoft Surface Pro. Also a correction should be noted for the camera resolution as listed in the above listed specification for the ThinkPad X1 Helix, the front camera is 2 megapixels and the back camera is 5 megapixels (you are not going to get a 50 megapixels camera).
The ThinkPad X1 Helix keyboard dock have more functions than the normal keyboard accessories that you can get with Microsoft Surface tablets. The keyboard dock on the ThinkPad X1 Helix also functions as an additional spare battery, and there is also additional ports on the dock that allows you to get more functionality out of the main device (i.e. USB 3.0). It is interesting to note that the ThinkPad X1 Helix will be using mSATA SSD, which means that it maybe upgradeable (not confirmed yet), thus making it more future friendly then the current ThinkPad X1 Carbon. From what is mentioned in the official Chinese manual, the pen/digitiser (wacom) feature would be similar to the current ThinkPad Tablet 2.