I work internationally a lot. For the remainder of the year I will take a minimum of six - 14 hour flights to Asia (3 trips - 2 months stays per trip. I will take my powerbook to leave at the hotel(for heavier computing) and will carry the lighter ipad daily to pull out whenever I need to take notes (almost daily) or show a video or photos (regularly) to colleagues. The ipad will be far more useful at these tasks than my ipod touch (having 8 people gather around squinting to watch a video doesn't work.) I do not have an iphone, since I spend half the year, at least abroad, carrying AT&T for 3G has never made sense when I would use it so little. Now, when I go on vacation with my family I can buy it just for the month. I will get the 3G model just for the 1 to 2 months a year I will get the monthly plan. For vacations it will be the only device I will need to bring, not the heavier Macbook Pro.
I can also leave it as a digital picture frame when not in use. Will also play/use a couple of the apps that I currently have on my ipod. Ical will certainly be a more pleasant experience. I've read about a dozen books on my ipod touch so far. I find it manageable, but will be much better on the larger screen. it will also be a great portable DVD player/book reader/game player for my 7 year-old daughter when trapped somewhere (car, in a line, shopping, etc.)
Version 1.0 will be a benefit to me starting right away for the things it can do and do very well. (will be great for those long plane rides.).
Sure, it would be nice if it had some of the oft-complained about missing elements, but the truth is none of them will affect me very much.
Flash - Can't watch Hulu internationally anyway, don't play online games, won't miss ads. Would be nice to watch some web video on the go I suppose, but would do it so rarely it won't kill me to wait until I can get back to the hotel. If I want to watch something while on the go, I would go for my slingbox, which I currently use on my ipod touch. This again will be better with a larger screen.
Camera - Only use it for ichat/skype video calls with family. Important, but will have my powerbook abroad for bigger tasks anyway.
Multitaksing - for purposes I will use it for, multitasking 3rd party apps is not really applicable.
No ports for USB, SD, HDMI - Again, I just don't find these applicable for me. I have no problem syncing it occasionally with my computer.
Limited hard drive space - I've watched as many as 5 movies on my ipod touch during an international flight(with external battery assist) Why would I ever need to have more full length movies on the ipad than that at one time.
File Management - I will use ipad I works version for reading/editing docs on the go. I'm sure there will be an easy way to sync it to the powerbook.
Bottom line: It's not the full computer some people want it to be. But the things that it does do well will be very useful for me. I could wait for 2.0, but I want to start getting the benefit from it right away. If you get 2.0 will you sorry you ddin't wait for 3.0? No, I will get mine right away and perhaps another in 2 or 3 years, and it will be even better. (I still very much enjoy my first generation ipod touch and don't see a burning desire to replace it yet as it still works, except for the added screen real estate on the ipad touch. People may think they're bashing it when they call it a giant ipod touch on steroids, but for some of us, that is exactly what we want.