Microsoft will not deploy a tablet version of Windows Phone 7.
Microsoft is planing to release Windows 8 next year. Looks like this is how long we will need to wait for a decent Windows tablet as well. According to Electronista, Microsoft's Andy Lees says that Windows Phone 7 will not be ported to tablets. Microsoft sees tablets closer to PCs than mobile phones. Apple as you know sees that very differently.
The arguement is though pretty much moot if Microsoft is delivering in Windows 8 what the promised. If Windows 8 can behave like iOS or webOS if needed and still offer the full depth of a full PC operating system than this is actually great. The risk is though that Windows 8 brings the complexities of a PC to a tablet and this is clearly not what consumers want - just see iPad success story.