Tablets increasingly seem to want to go from companion device to dedicated device, but there’s a lot of catching up to do in terms of productivity before that can actually happen. Today, most modern smartphones are capable of capturing 720p video, that means that if a tablet wants even a chance at being a standalone device, it’s going to need to at least be able to edit those files.

Android 3.0 (honeycomb) comes pre-baked with a Movie Studio application which wowed the press with what appeared to be full-fledged video editing on the tablet. But now that the Xoom [tracking page] is available to the public, we have to ask (and I can’t believe I haven’t seen people be more critical about this): Is the video editing really up to the task? You be the judge:

Incidentally, this video was shot, edited, and processed on an iPhone 4 (but not uploaded, damn YouTube file size limitations!).