I love my kindle and actually found this forum through the Kindleboards... and to me this is apple & oranges (pun intended). I use my kindle to read and that is it. It is so light, even in a cover, I can easily hold it with one hand. I can carry it with me in my purse and sit out & read in bright sunlight on my porch... for hours! A charge will also last almost 2 weeks and I do not pay a penny extra for 3G service.
I just got my iPad and am enjoying it so far but even though it does so much more, it is so limited for me because of the size and weight. I also think there is an awkwardness about it, you do not have with a laptop, that though it is larger, is much easier design wise to use.
I do think I will get use to it and just have to find the right set up (case, pillow...) and I think I will get a lot of use out of it. However, I don't foresee taking it with me on a daily basis, where as rarely go anywhere without my Kindle.