Interesting reading so far....
The single biggest point that is largely unabsorbed is that the ipad is not really a computer in the traditional sense. It's primary conceptual point is the evolution of connectivity not computation per se. So it's not really meant to replace a laptop or netbook but to offer an alternative with a specific alternative functionality.
So all of the comments are a bit off in that sense. The value that the ipad offers is currently marginal and in a few years my guess is that apple overall will join AOL as an MBA case study in how not to grow and prosper but without doubt the iphone and ipad have brought cloud based architecture to the mainstream. While true traction is still a few years off within a relatively short time frame we'll see the migration to mainstream cloud-based OS deployment.
All the talk about what the thing will and won't do is akin to folks in 1895 talking about why a horse is so much better then an automobile. The flip side is that 99% of the population can't even tell you who the 1st production manufacturer of automobiles (in US) was (Durea 1896). Maybe a few more know that the 1st gasoline powered production vehicle was actually Oldsmobile (1904). Yet if you ask most will tell you Henry Ford built the 1st cars. BTW Ransom Olds also built their 1st electric automobile in 1899 and in 1899 & 1900 more electric cars were sold then gas powered models with the Columbia (built by American Bicycle Company) being the most popular car sold in America in 1900.
So don't view the ipad based on what it does now but what its started, personally I'd wait for an android based version to appear or potentially something like the slate...but the real momentum will be toward android/ubuntu IMO.
Sorry but you've been drinking the kool-aid humble. Apples spin is what you're saying, however the alternative to specific functionality? What exactly? It's not the best browser, media player, or any other app. That would be fine if it were competitively priced to reflect that, but it isn't. It's not really ground breaking tech, slates have been around for ages, and a range of slate/convertable netbooks were released ahead of the ipad.
As for cloud based infrastructure? Bollocks. The only cloud thing is the store, which I'm not sure is good thing given apples moves towards restrictions on app development and more importantly content.
The ipad and it's marketing is a pile of contradictions...
apple say hey look it plays media - people say but it's 4:3, has a shiny screen, and can't play MKV files - apple say oh but it's not supposed to be a media player replacement
apple say hey look it's a great portable browser - people say but it doesn't support flash or java - apple say oh but it's not supposed to be a web browser replacement
apple say hey look it's got iwork - people say but it can't print directly to a printer - apple say oh but it's not really for editing and creating documents
and the list goes on. Every single thing it does it does NOT do well. Nor does it do it at a competitive price.