I think a lot of people are discovering that the iPad replaces neither a phone, nor a laptop, nor a desktop. And with the neverending distractions we all have in our busy, modern lives, is there really enough time to spend on *yet* another device? http://www.ft.com/cms/s/2/6f638e54-db10 ... l?hpt=Sbin
Netbooks stole the Laptop market's thunder 3-4 years ago and grew really fast. But today, that segment is shrinking. Laptops have not been replaced. They are very much around. I think Tablets will certainly be a popular form factor, but the overall penetration potential is limited. I don't think the tablet will in any event become the new de-facto client, as many analysts are/were projecting.
Zooming in from the macro view, I do own an iPad. It's fun to use, but I keep running into limitations. As Skywriter mentioned, since you can't scroll HTML textareas, using any kind of web based app that requires significant text entry (Forums, email apps, newgroups, CRM etc.) is painful if not impossible. The lack of state-preservation across open tabs in the browser means that often, as you switch from tab to tab, the entire page reloads. If you've typed content in one of these pages, too bad. It's all gone. I still don't enjoy typing on the iPad one bit. I've owned it pretty much since it came out and have never gotten used to the widely spaced keyboard which is not fit for one-handed typing ala iPhone, and nor is it fit for netbook style two-handed typing. Also, I think I've had too much of Apple's controlling approach to everything from storage expansion, to batteries, to choice of carrier to how apps get approved and installed. Once you've had enough of the kool-aid and the initial excitement starts to wane, you do tend to find these aspects more than a bit irritating.
Who has the most fun with the iPad? Probably my kids, who play games on it. But even they spend more time with their netbook since the bulk of the websites they visit are Flash based (educational content, flash games etc.) and none of those work on the iPad.
I would wait for the next round of Windows based tablets before making up my mind on which device to go with.