HP to Refund Touchpad Purchases
HP  are beginning to refund purchases of the HP Touchpad. For customers who  purchased one directly from HP they will either offer a full refund or  they will refund the amount up to the new sale price of $99.
To get the refund you need to do the following:
Folks  who bought HP TouchPads from HP’s website just need to call HP’s Home  & Office phone service (be ready to be on hold for about a half  hour) and tell them you want a full refund or to be credited the  difference. HP will honor either request, and in the case of the  fire-sale difference, they will give you an additional $10 credit off of  your sales tax.

At  the moment it isn't clear how far back the refunds will go but a lot of  people are hoping that pre-orders for when the device was first  launching will be covered.
If you purchased from somewhere else  then at the moment it seems to be up to the retailer although HP has  only recently announced this which could mean retailers are not fully  aware of what is happening and what to do about it.
Expect to hear more over the next few days about refunds from other retailers.