I see iPad as the type of device that will gradually infiltrate the world and eventually become a serious viable computing option for many people.
I'll skip all the "pro" parts. It's obviously a fun device, fairly portable, intuitive, and can appeal to a sizable "niche" market where people only need the basic tasks with their computer.
But it's not very immediately useful or essential for many of us who already own laptops (or even netbooks if you will). It doesn't quite cut it as a reading device as it's still LED (but the latest technology still doesn't offer anything good in that department, anyway). Unless you like watching movies in the bathroom, I don't see it as a great movie theater either. And most importantly, it doesn't run OS X, let alone Windows, which WAS expected, but is still a major obstacle. Not performance-wise (iPad OS seems really fast), but resource-wise, investment-wise, especially if you don't own an iPhone (even if you do, actually). You need a big motivation to start a whole new game from scratch, and I don't know if this device as it is really offers it. More "blurring" of the lines may be necessary on the OS side for iPad to be a (or THE) major player. OS X and iPhone/iPad OS are still a little too far apart.
Having said that, I do see a place for iPad in the future, a BIG place. This is just the beginning of a beginning, so to speak.
