You bring up good points. Let's have a go shall we?
You were doing all of these things before the iPad, so why buy it in the first place? To answer, because you wanted one. Fair enough. With that being the case wouldn't it have made sense to see what you EXTRA things you can do before you buy it? Something to consider for your next purchase.
Tool or Toy... For sure let's forget lawyers. 100% agreement there. However, do you really need a computer or a mobile phone? Nope, but they sure do make your life easier don't they? Sort of like progress huh? From the Pony Express, to telegraph, US Postal service, email, so on... While the iPad in your eyes is a toy, for many it is a valuable tool that makes their life and workflows easier.
You go on to state that you are a professional photographer. Fair enough. I know a thing or two about photography as well and the first thing I did was to stock up on photo apps that will help (tool) me to be a better photographer and make my photography more productive. With that I submit:
www.terrywhite.com (extensive use of the iPad). Apps: Filterstorm, Colorsplash, Photogene, Luminance, Portfolio (a must have for photographers),Easy Release... The list goes on. When I go on a shoot or vacation, I can leave my MBP at home and just use my iPad with the apps listed. Is it a toy? Hardly as it fills my travel needs as a tool. Lesson learned? The use of toy vs. tool is subjective and relative to needs.
Other apps: CineXPlayer, VLC, EyeTV (you need cable and a tuner), Tuner, Zinio, Skype, Fring, etc... From the looks of it, it appears that you have not spent much time looking for apps on iTunes which has about a bazillion apps (not all useful for sure)...