Yes and I can't wait! For two years I've been saying "I wish my iPhone screen was bigger.." and now I can get one.
My iPhone does 99% of what I need for my daily computer and media needs. I love the touch features, the ease of web-browsing.... I just wanted a bigger screen.
I have a notebook, hate to use it due to the touch pad and lack of mouse. I could hook up a mouse but why? I prefer to surf the web with my Iphone to the hassles of browsing with the notebook. The iPad was what I wanted for years.
No one said it was going to be a full blown computer. Mac also sells computers, you want a computer then buy one of those. Not everything needs a camera, the need of flash, multitasking. I understand that they would be useful but for many, many of us for the price point and what we will use it for, it's perfect. For the rest who are unhappy I think they need to stay with their laptops.