It's pretty clear where we're headed given the trend of convergent devices. We're just still working on the technology needed to get there.
Eventually, we'll be using a single device for everything. That could be a phone, or it could be a tablet if people don't want their phones constantly being used for other stuff. What tasks our one device might not be inherently capable of will be done through the cloud. We'll use them to stream music and movies, read books, play games, write documents and so on. We can take them on the go when we need to, sit them in a cradle to use them to watch stuff and play games on a TV, plug a keyboard and mouse into them to turn them into a more fully functional PC (hello, Surface + Metro!), and more.
The all in one convergence device isn't far off at all, methinks. Ironing out the kinks (like adding controller support, proper TV connectivity, etc.) and getting enough horsepower are all that's left to be done.
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