Let me add my two cents in favor of an iPad for college, mostly because I missed out on it by a couple of years, yet still work in a college environment...
The iPad is great from the standpoint of focus and getting out of your way. I had an iBook, then a MacBook Pro for college and both were pretty lightweight, but the battery didn't last through a couple of classes, they took up a lot of space on a desk or table, and I found myself easily distracted (either by IM, email, and various web sites). The iPad forces you to do one thing and one thing only, so if you are taking notes, you have to switch away to do something else, as opposed to glancing to another part of the screen. The great battery life and small footprint mean that it can be thrown in a bag and not need to be the "star" of the show (sometimes I had to choose between additional textbooks that may or may not be necessary during a lecture and my MacBook Pro).
It won't be the best for every situation, but combined with paper notes, you have a pretty solid solution. I like Evernote since it syncs with a desktop client, tries to (and sometimes successfully) reads text from images. This means you can collect additional content (paper notes, images, diagrams in books) with your iPad's camera or your iPhone's camera. That would've been great in my day (all I had was an iPod touch and Evernote on that and my Mac). I also think Penultimate, Wacom's Bamboo, or Adobe Ideas would be a good addition...Adobe Ideas has been my go-to pick, but with the price increases, Penultimate is a better value. Bamboo is good for the price (free), but limited. Dropbox is the last of my must-have educational apps/services - it will open and view a lot of files out there and you can use it as a way to sync documents with your Mac and iPad, especially if you have things like professor-provided notes, documents, or slides.
Finally, in regards to office suites...I went Office-free on my Macs, mostly to save disk space and because for writing papers in my area, I didn't need every feature that Word offered. Pages on the iPad takes that and simplifies it one step further. You still have plenty of options, but may need to use your computer if you have specialized formatting. Keynote does a pretty good job with PowerPoint files, unless they have some embedded media or, again, weird formatting. Then, they still _work_, but may look a little off.
I would also pick up the iPad VGA adapter if you plan to present, since most projectors are still VGA. Also, find something to make the iPad a little more comfortable to type on if your case doesn't have a built-in stand. I like
Twelve South's Compass, which is a tad pricey, but isn't extra-complicated to use or carry.
I think the setup could work for you, as long as you know what to expect from the iPad's capabilities. I wish such a device existed a couple of years agoI may have just gone with that and a super-powerful desktop Mac at home...
Good luck!