App Inventor is utterly ridiculous. I'm still poking at it, but at the moment it looks like one might actually construct non-trivial applications with it. Nothing incredibly advanced, mind you, but it's a definite start. With http://amerkashi.wordpress.com/ in the picture it looks one might be able to unravel them back to something like source for further modification.
Not only is it somewhere between VB and LOGO in how you use it to construct an app, when you're messing around with the layouts, instead of merely putting the buttons and so forth on your computer's screen, it can go ahead and put them on your target device's screen as well.
Sadly, the Xoom's browser doesn't seem to just up and run it (that might end the world)--works fine with FF tho'.