I bought the iPad on April 6th [3 days after the launch day] and returned it promptly on April 20th because I bought it just for playing with it for 2 weeks. I am trying to put down my observations while I tested this thing out.
Believe me I am an Apple Fan boy!
I have been an apple fanboy since 2001 when I first bought the original scroll wheel iPod and nothing has changed about my perception about Apple or its products.
on the Plus side
Looking through the Photos collection and using the iPad as a picture frame, while playing iPod in the background is one of the best things in iPad.
Watching Videos and YouTube:
click for larger size
It is amazing in this unit. My daughter can navigate with ease and enjoy her rhymes and I feel that YouTube on iPad is much better than a laptop browser [too many Ads nowadays on youtube.com] or the iPhone.
Using the iPad optimized Apps:
Apps from NYTimes, USAToday or BBC, which are specifically designed to use the larger screen of the iPad, are really nice to read and share.
Also I liked the Epicurious app for browsing through recipes.
On the Minus side
click for larger size Weight is one of the main drawbacks; even Steve Jobs was sitting in a couch, keeping the iPad on his lap while showing the demo. This thing is not designed to be carried on one hand and typing using the other.
Shortage of iPad optimized Apps
Though it can run all the Apps designed for the iPhone, they do not look good when you expand them to occupy the full screen on the iPad. We do not have a large collection of free Apps that are designed for the bigger screen iPad at the moment.
Not for creating content
Even though there are productivity apps like Keynote, Pages etc, iPad is more of a device where you consume the content rather than a device for creating it. If you have to sit down and use a bluetooth keyboard to type large documents, you would rather type it on your laptop or desktop.
This version may be sufficient for most people, but I would like to wait for the next version.
I am sure it will be lighter in weight with a wider range of iPad optimized Apps.