There’s yet another cheap tablet with Ice Cream Sandwich in town, the Ainol Novo7 Paladin, a slate that’s available for pre-order now. The tablet follows another Ainol piece of gear that went for around $100, so the brand is started to get associated with budget slates.

We’re dealing here with a 7 inch tablet with Android 4.0 and a pretty poor 800 x 600 pixel resolution. Ainol Novo7 Paladin relies 1GHz JZ4770 Xburst MIPS processor, plus 512MB of RAM and 8GB of internal memory. There’s also a Vivante GC860 GPU with 1080p HD Video playback support in the mix, in case you’re wondering. The slate can be found on PandaWill and Merimobiles for $119.99. With Android 4.0 official tablets from HTC, Samsung or Motorola not even out yet, I’m surprised to see that China has already produced some budget models with this OS.

I’d keep my eyes open if I were you, since I’ve been tricked before by a tablet that supposedly had Honeycomb and in fact it was Gingerbread with an android 3.x lookalike skins. This may also be the case here and for other below $200 tablets with Android Ice Cream Sandwich…