the ipad is a wonderful device that i use to get maybe 90 percent of my work done as a student / researcher / lecturer.
however, as someone pointed out, your mileage will vary (depending on usage) and it has some pretty significant limitations (so does paper). the key (i think) is for school districts to implement it gradually and with lots of careful thought about exactly how they intend for it to be used (with plenty of thought about unexpected potential as well).
i am afraid we will see the opposite--the cancellation of book purchases in favor of the ipad (no going back then), huge problems with implementation (kids hacking it, surfing the net during classes, and other total nonsense), and massive losses of money due to issues ranging from textbook prices to damaged/lost devices.
as for the kindle, i am a huge fan of it (i own a dx), but the potential is very limited. it also has some hurdles to overcome in order to make it legal for use. in a pilot program at my university it didn't do very well.
#1 It's Expensive
This makes no sense. It could very well be more expensive than the current arrangements, but offer more educational benefits. If we consider deals with publishers and implementation, we might be able to talk about whether it is cost effective.
#2 It's Not the Best Solution for Note-Taking or Editing Documents
Partially true. I don't take notes on it. I do find it to be fabulous for editing, especially when paired with a bluetooth keyboard.
#3 It's Too Distracting
Maybe. It depends on how it is used. Kids can get distracted by just about anything. Classroom management (its implementation) will be the key.
#4 It's Ultra-Portable and Ultra-Droppable
Yes.
#5 What Makes it Desirable to your Kid is What Makes it Desirable to Criminals
I doubt this will be much of an issue. Kids get on the bus at school and get off at home in many areas. Urban areas prone to crime will (for better or for worse) probably be unable to afford the devices anyhow.
#6 It's Meant for the Enjoyment of One Person, Which Means Social Seclusion
I guess the author doesn't like books either.
#7 Digital Text Books are a Marvel, but There's No Secondary Market
I don't know what this means.
#8 It's a Status Symbol, Plain and Simple
No. It's status drops significantly when every kid has one.
#9 It'll Already be Old Technology by the Time You Buy It
Yes. But, I have an iPad1 and still get a ton of use out of it. I suspect I will by this time next year as well. Fortunately, kids don't need bleeding edge tech to read a book.
#10 They'll Also Want a Laptop, Too
Yes. But, they already want them