I completely agree. I cannot imagine actually doing anything productive on the ipad, but for for consuming content, which is what I do 75% of the time when I am on the computer at home, the iPad is just a much better experience. It keeps consuming and producing separate, making the consumption part more focused.
I'd much rather prefer to be able to produce content on my iPad. I can see it now... Sometime later down the road - maybe the 3rd or 4th revision - it'll include some form of iLife that'll allow us to perform quick edits on music and video while we're on the go.