Microsoft today announced availability and pricing for the new Surface 3 tablet.

Like the Surface Pro 3($779.00 at Amazon)(Opens in a new window) tablet, the Surface 3 drops the 16:9 screen aspect ratio in favor of a more paper-like 3:2 screen. Further nailing Windows RT’s coffin shut, the Surface 3 runs a full version of Windows 8.1, and will be eligible for the free upgrade to Windows 10, when that operating system is released later this year.

Starting at $499, the Surface 3 aims to attract high-end tablet buyers as well as those shopping for midrange and budget laptops.

Like the Surface Pro 3, the new, less expensive Surface 3 works with all the Windows programs and browser plug-ins that users have acquired for previous PC systems. The primary interface is the tablet’s 10-point touch screen, though the tablet will have its own line of interchangeable Surface 3 Type Covers, which unfortunately aren’t compatible with the covers for the original Surface, Surface Pro 2, and Surface Pro 3 tablets. Still, the Type Cover has a two-stage magnetic latch, which is more secure than the original Surface Type Covers. The $129 Surface 3 Type Cover comes in four colors initially, and must be purchased separately.

The $49 Surface Pen is compatible with both Surface Pro 3 and Surface 3, and now comes in black, blue, and red to match the Type Covers. The original silver Surface pen is still available as well, but Surface 3 buyers will have acquire one separately (it’s not included like it is on the Surface Pro 3). An optional desktop docking station will also be available, as will a pre-cut screen protector.

The 10.8-inch IPS screen has a 1,920-by-1,280 resolution, so it can display a full 1080p HD video at native resolution. Microsoft chose the squarer 3:2 screen aspect ratio to facilitate use of the Surface Pen. Like the Surface Pro 3, it feels more secure in the crook of your arm than a 16:9 tablet, especially in Portrait mode. The tablet’s magnesium alloy body measures 0.34 by 10.51 by 7.36 inches and weighs 1.37 pounds.

Charging now uses a micro USB port, so you’ll be able to charge the tablet from a standard USB charger or even from a desktop or laptop’s USB port. Other ports include a headset jack, a mini DisplayPort, and a standard USB 3.0 port. A micro SD card slot hides behind the three-stage kickstand. The kickstand has three steps, a more vertical angle, one laid back for standing use, and a step in the middle for seated use. It’s less versatile than the adjustable angle on the Surface Pro 3, but this way the three stages simplifies the hinge mechanism. LTE-equipped Surface 3 tablets also have a nano SIM slot standard, along with GPS and GLONASS support.

All Surface 3 tablets are powered by the Intel Atom x7-Z8700 processor. This quad-core processor runs at 1.6GHz with a Burst speed up to 2.4GHz. Microsoft claims a 10-hour battery life playing back video, which we will test once we have the Surface 3 at PC Labs. The base $499 model comes with 2GB of memory and 64GB of SSD storage. The upgraded $599 model has 4GB of memory and a 128GB SSD. The Surface 3 and its accessories will be available to retailers and ship pre-orders on May 5. You can pre-order the base models today, March 31. Add $100 to either configuration for the 4G LTE modem, when that model is available later this year.