Developers like Alex Chiang, Chris Wayne, Matt Fischer have created a Launchpad PPA that will allow one click and hassle free installation of Ubuntu on your Nexus 7 tablet. Although the PPA is not yet ready, some packages and Nexus related apps have already been uploaded to it, so one can expect them to be ready anytime soon.
Ubuntu 13.04 as promised will offer a much better performance on mobile devices like tablets, netbooks and laptops, and porting Ubuntu to Nexus 7 is definitely the first step to it. A few days ago, the developers posted a video on YouTube that showed Ubuntu running flawlessly on the tablet.
A lot of work needs to be done to make Ubuntu suitable for tablet environment, specially because till today, it was mostly targeted at desktops. Among the most important things include a much more responsive and lightweight desktop environment, good touch friendly apps and much more power with less consumption of battery life.
Hopefully, one can expect a breakthrough about this news in Ubuntu Developers Summit.