hits a lot of what I feel about the IPad including this part that really hits the nail on the head:
It doesn't replace anything
The iPad will not replace your smartphone. Unless you can't type, it won't replace your laptop. If you love books, you could argue it's a great e-book reader, but let's see what your wrists say after a few days. The Kindle is a better e-reader. Frankly, we're not sure what need the iPad fills, other than the desire to be cool by owning a device that is in a class all its own.