I got my iPad the day they came out. I knew it would be an amazing technology experience because I had used an iPhone for 3 years before that. The iPad is responsive and light. It's instant-on. It's not designed to replace a full-size computer; its design includes the premise that you already have a full computer of some sort to sync it with. It's not designed to replace a netbook for a hard-core techie. I have a netbook for when I need to go into a server closet somewhere and physically interface with a machine, whether via ethernet cable or USB to serial adapter. Honestly, I wouldn't want to risk my iPad in that environment. It's made of glass and a nearly-disposable 9 inch netbook is a much safer bet. So what's the iPad for? The iPad is for instant, trouble-free interaction with the web (minus flash of course). The iPad is for checking your email, reading an ebook, checking a PDF manual, listening to a podcast, listening to streaming radio, watching Weather radar, or watching a film or tv show via netflix. It's also good for games. I've ordered pizza with it, made skype phone calls with it, banked with it, filed my state sales tax reports with it. Any time I have both my iPhone and my iPad within reach I invariably reach for the iPad to do something online, because it's much easier than squinting at a tiny screen and constantly having to zoom in. When I'm out and about, I use my iPhone and don't bring my iPad, because the big advantage of the iPhone is portability (well, that and cellular calls). I've downloaded the iWork productivity suite, and it's cool, but I don't see myself using it too much, as I have other full-size computers. But if somebody sent me a document and I needed to make a quick change or I needed to make a presentation it could be quite handy to use the iPad for that with the appropriate cable. I've used it to SSH into my servers, and it works for that, but if I were going to be in for a long session, I'd want to move to a physical keyboard. Which I could do if I bought the keyboard dock or a bluetooth keyboard. Or, if I used one of my full computers. So, in summary, the iPad is not your only computer, it's not intended to be, it's an adjunct. It makes your life easier. It's lightweight net connectivity, somewhat like those Internet Appliances that were touted at the turn of the century, but with excellent multimedia capabilities, more portability and a much much better interface. In some ways, the touch interface for using the web is faster than a mouse, since there's not the lag time of moving the pointer and having to aim it precisely. It feels totally responsive thanks to all the animationw which mask loading times and lags which are so apparent on other smartphones and portable platforms. As the inventors of the progress bar realized, people are willing to wait for the computer if it seems like it is actually doing something.
Now, as for the common complaints of the slashdot crowd:
No flash : Not a big deal since I have Netflix, which is mostly better than Hulu anyway. Also, the ABC player is good for their content. Youtube HTML5 works well as does CNN's video.
Non-removable battery: Also not a big deal, the battery charges fully in about 2 hours, and I've been getting more than the advertised 10 hours out of a single charge routinely. Also the standby time is excellent.
Not completely free: I have linux boxes for when I want to maximize freedom. But even so, this concern is overblown with the iPad. A member of the development program can write whatever app he wants for his own iPad and Apple doesn't get to decide whether or not he syncs it onto his device and runs it. Apple's role as gatekeeper only happens when the App store is involved and in that particular case they are deciding on whether or not they want to use their infrastructure to distribute your application to others. I don't think that's unreasonable for a software distributor to be able to decide what software they want to distribute. If there's an issue there, go develop for another platform, we have plenty of choices on the market. No businessman is guaranteed a market just because he has developed a product.
No USB ports: slightly annoying, true. I wouldn't mind more expandability. Apple's design minimalism I guess. At least we can be assured that crappy USB drivers won't crash the system.
No SD card slots: Also slightly annoying, would be nice, but then they wouldn't be able to sell their camera connection kit.
No camera: A camera seems like a no-brainer to me, but I'm betting Apple is holding back that feature to stimulate a wave of upgrades for the next version. Pioneers get arrows in the back, we've always known that. But for a 1.0 device, it's a pretty sweet release.
No file manager: As a technologist, I find this most annoying. i'd like to be able to download PDFs, movies, etc to my ipad via the browser and save them, rather than just being able to read them inside the browser when I'm on the page. But apparently the non-techie population finds the concept of file paths and virtual object permanence hard. So each app manages their own files in a non-changable location. Again, more design minimalism to support our differently-abled brothers.
No background tasks except Apple approved ones: Slightly annoying. i'd like to be able to play Pandora or other internet radio while browsing. The most egregious lack though seems to be in Apple's leaving the Clock app from the iPhone off of the iPad. This was an extremely valuable app because it runs in the background and has a loud continuous alarm, unlike the tinny sound effects played only once available in the calendar app. There are many 3rd party clocks but you'd have to leave that app running the whole time while in standby mode for the alarm to go off. I still use my iphone as an alarm as a result. Backgrounding is supposed to be addressed in the next version of the OS.