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A smartphone (Motorola Defy) or a tablet (Motorola Xoom)?

I am going to college in a few weeks and I need to buy either one of the two devices - a Defy or a Xoom.
What I'm really looking for: surfing the net, watching movies (definitely a no no for the defy), playing music, games, huge app support, android os

Pros and Cons, the way I see it:

Defy:
Pros - Comes cheaper (Rs 12500 when I checked yesterday), can be flashed to Android 4 ICS easily, dust/water/shock proof, can play HD games etc
Cons - It's a phone, so risk of losing/theft is high considering I'm going to college, screen is tiny compared to the tablet

Xoom:
Pros - large screen, upgradeable to ICS, can play HD games, laptop replacement in a way
Cons - Costs around 23000 for wifi only version

Which one should I get, the tablet or the phone?
I'm considering only between these two models because they're quite old, but still have great specs for the prices..