Not trying to be argumentative but I think it depends a little more specifically how one defines speed or power, or to what those qualities are applied.
High end video editing, coding, and heavy spreadsheet jockeying are the primary examples that I would cite where an iPad falls somewhat short. That said...
- there are some pretty functional video editing apps on the iPad including of course Apple's - perfectly suitable for consumer use and very light pro use
- with Codea there is now an apple approved coding solution on the iPad (there's a great game called Cargo-bot that was coded entirely on the iPad.)
- viewing and tweaking existing spreadsheets, even complex ones, works fine
All a long way of saying that the list of shortcomings is pretty small, and getting smaller all the time. And in terms of speed - the kind we experience all the time whenever opening apps, files, switching, booting/turning on/off, etc. - I can say without hesitation that the new iPad is way quicker than the iMac is.
I'm a film producer. I do all my work on the iPad, as well as track and manage all my business and household finances on my iPad.
My iPad is my favorite Apple device but in my opinion what you're suggesting is wrong, it's like promoting 'counter-productivity'
While it is the perfect device for consuming content and doing a little bit of content creation along the way it is in no way a replacement for a computer. And suggesting that 9X percent of people 'could' do it is bad advice.
It's like saying you could get by driving a scooter on the freeway. But should you? No. Not unless you like to take your time getting things done and having fewer options.