Hmm, let's see...a school where kids sit and play on their iPads all day, learning whatever interests them at their own pace. Kind of like an electronic free-for-all with "facilitators" or, perhaps, "proctors" instead of teachers.
One thing is certain: As expensive as iPads are, the school should be MUCH less expensive to operate than a traditional school. I think proctors would cost less money than actual teachers. Here in the USA, I don't think the teacher unions would be crazy about this kind of idea. They'd have to agree that a $500-$800 tablet could teach children more effectively than a $65,000/year employee (not including health care, pension, etc.). Those iPads don't seem so pricey after all.
Of course, it sure would be fun to put it to the test in a real school, perhaps in an impoverished American city like, um, let's say DETROIT (my hometown). Let half of the kids learn from iPads and the other half learn from Detroit public school teachers. Start them out at age 4 (pre-k) and by the time they're 12 (middle school), give them a standardized test, complete with an essay section. Knowing the Detroit public school system, where less than 25% of incoming 9th graders actually graduate high school, I would bet the bank on the iPad kids. After all, how much worse could the kids actually get?
It does seem like an insane idea, but the only way to improve the educational system (which I think we all agree needs a lot of improvement) is to try out new systems and put them to the test. I guess there would have to be a lot of parents who don't mind their kids being guinea pigs.