Dare I say it, I kind of agree with Bill on this one.
The iPad does appear to be nothing more than a iPod Touch on steroids, and while in time I'm sure the apps will get better and better, I'm just not convinced it's as brilliant as Steve would have us believe.
Some people have been lauding this as the saviour of studentdom, and while to a degree (pun intended

) this may be correct it also introduces the worst thing possible for a student: a single point of failure.
It's all well and good being able to download all your textbooks to the iPad and use iWork for dissertation writing etc, but what happens when the iPad dies, or the screen gets smashed? There's no SD card reader or USB port to back everything up to (the camera connection kit states nothing about transferring anything other than photos or videos, and given the jailed design of iPhone OS, I expect this is unlikely to change) and the SSD can't be easily removed and put into a caddy, so unless you're syncing to a computer regularly that you already have (and you at least need access to one to activate it), you're completely buggered.
Given that the cheapest Mac (entry level Mini) is £510 (not including a monitor obviously) and the entry level iPad is somewhere in the region of £319 (using today Converter widget's conversion from USD -> GBP) and the entry level Macbook is £816, how is the iPad cheap exactly?
If the student discounts are similar across product lines then it will still be cheaper to buy an entry level Macbook with optical drive and USB ports for backup, easy access to the hard drive, more screen real estate, more horsepower and unparalleled compatibility (Virtualbox / VMware / Boot Camp etc for Windows only apps). Given that one of the main justifications of having digital copies of textbooks is weight, I doubt any student would moan about a Macbook that weighs the same as 1 texbook when normally they'd be carrying 5 or 6.
As clever as the iPad is, I think Apple are wide of the mark on this one. It is as Gates stated a nice reader and anyone who has an iPhone or iPod Touch wil be instantly at home with it, but I find it too constrained and something of a false economy for the student population, for whom I think this could have been quite good.
Such a device should have easy availability to backup without the need to have a computer present if critical data is to be stored on it. It is fairly obvious that the broader

view is to rope students in to syncing with an iDisk when connected to campus wifi. MobileMe: yet more expense for students on a budget.
That said, the thought of sitting in a lecture with the external full size keyboard dock (already something extra and pretty cumbersome to carry around) is ludicrous, and two handed typing of lecture notes on the screen...
No. Just no.