absolutely worth the investment
I am a junior in University at the moment, and to respond to the OP I would DEFINITELY suggest getting an iPad so long as it is reasonably within your budget. Don't go staving or cutting into your beer budget for it!
;p
But in all seriousness I am doing just what you are hoping for, using my iPad instead of my Macbook Pro 15inch as my mobile computing device.
Here are some things I reccomend:
Zagg shield for your screen. Tossing your ipad in your backpack with keys, pens, jump drives, or whatever else could eventually cause a scratch. And even a small scratch would reduce resale value.... So the 29 bucks for a screen protector is worth it. They even offer a smudgeproof and glare resistant version which will help you read your books under the trees on campus in the sun
🙂
http://www.zagg.com/invisibleshield/apple-ipad-2-cases-screen-protectors-covers-skins-shields.php
If you are planning on using your ipad as a note taking, word processing machine (which I highly recommend you do), consider as others have mentioned the Apple wireless keyboard. And the best addition i've found is the Incase Oragami Workstation. Handsdown the neatest accessory for my ipad. It props up your ipad at the perfect angle, just above the keyboard. you really get a touch-screen laptop experience! And then it folds around the keyboard to protect it in your bag. Check out the 360 degree view on their page!
http://www.goincase.com/products/detail/cl57934/2
Finally the iWork suite like others have mentioned. And iStudiez, the best app for a student planner (keep track of assignments, professors, class locations, tests, etc).
finally, its not necissary but I am also using the LiveScribe Echo pen to take my notes in class. This is a great tool that gives you the fast and free experience of pen and paper, but also automatically uploads a pdf version of your notes to your computer, laptop, facebook, etc.... AND it records the whole lecture as you take notes, so you can go back and touch any of your notes to hear that specific part of your teacher's lecture. GREAT for study guides on tests! It also makes your notes 'searchable' on your computer!
http://www.livescribe.com/en-us/
Good luck OP!