I believe the reason for the 30 pin connector is to create a market for the ipad 2's and agree with everyone saying a 4 is total overkill, Apple has been using ipad 2's as smart signs in their own stores for years now, why not finally share the goodness.
Magnetic strips need to be an option seeing as some people don't have cards with chips, if the card has a chip most PoS systems require it to be used, but its your own fault if you decide not to go to a bank and upgrade your own security.
" It is also able to support additional peripherals like a receipt printer, kitchen printer, cash drawer, and barcode scanners. "
In my opinion its everything most businesses would need at a cheaper cost, better visual, and easier to use and teach than that of most PoS systems already out there.