It's not RT. It's a full tablet.
Yes it'll be slower. A dual-core atom. Good enough for stuff like browsing the web, watching hulu / Netflix, watch some downloaded movies, etc. Also very long battery. I read a lot of the reviews on the Samsung equivalent on Amazon/newegg and everyone seems pleasantly surprised at the performance. (Both intel atom-based, so should be same performance here.) Just don't multitask heavily on it. If you stick to the modern windows 8 UI and don't use desktop too often, the OS should be smart enough with resource management to keep everything snappy even with 2gb ram (Win8 knows how to save-state and shutdown apps when mem is running low).
But yea, no playing battlefield 3 on this I'm afraid.