No. It has no handwriting recognition and it's difficult to type on, it is very limited considering the needs of some students (no option to install Windows, no CD support, no Word document editing support, no option to connect a printer or any USB device) and most students can't afford to own both a decent computer and an iPad.
Do you know it's difficult to type on? How? Oh, right, you haven't used one and so actually you have no idea whether it is or isn't difficult (and no, 'hands on' reports from people whose hands we 'on' the device for < 4 minutes don't qualify). Try using it for an extended period and see how proficient you get. I bet you're better on the iPhone than you ever thought you'd be, right?
If not, get a BT keyboard, or the keyboard-dock. Either way, they will provide the same typing experience as MBP or iMac...
As for Windows, that's a red herring. The need for Windows is extremely limited and specific. If you
need it, you know definitively (e.g. some obscure CAD program or some such). If not....
Word (and all Office) docs can be edited, and saved out, by the iWork apps. So even if MSFT doesn't release an iPad-native version of Office, this is not at all an issue unless you have extremely complex files (e.g. macro-laden spreadsheets, or Word docs with preposterously complex formatting).
As for printing... How do you know? I print from my iPhone all the time as it stands now using simple apps, and I'd be quite surprised if Apple didn't make bonjour/BT printing available natively in iOS 4 if not sooner.
As for other devices, USB or otherwise, what would you like to connect? A camera? There's a kit for that. Video out for a projector? There's a kit for that.
Memory cards and sticks? Well that you're on your own (until/unless there's a kit for that...)
As for
legitimate reasons why an iPad might not be well suited for a student (the hammering nails issue raised above), that's another matter. Things like coding/compiling/testing software, etc. The iPad clearly wouldn't do.
Otherwise, please stop with the FUD. It's ridiculous.