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personally i'd go for the MBP, it can do everything that the iPad does, the battery life is pretty good, and it's not much bigger ;)
The "not much bigger" in your post got me thinking. Simple math using Cubic Inches to determine size, the 13" MBP is slightly over 3 times bigger than the iPad & precisely 3 times heavier.
 
I have a 13" MacBook pro and an iPad. I rely on them both. Lately my iPad has been getting more use.
 
If you're gonna use it for school, get an ipad. The awesome battery life'll let you stay at the library longer without worrying about a charger and if you pair it up with a bluetooth keyboard, you'll be able to carry 3.5 lbs less when you go to the library.
I actually just used it for studying and its friggin' awesome!! I sat myself down at the library, spent 7 hours making a study guide, and converted the document into a PDF file, and used the ipad to study it everywhere i went :D.
If you already have a 2006 MacBook, you don't need another.. The current specs upgrade aren't that impressive. If you want a speedier MacBook, i highly recommend upgrading to intel g2 ssd... That upgrade is definitely a lot more noticeable than a CPU upgrade.
 
I would get the MBP now and save up for the second or third gen iPad. The iPad isn't a fully functional computer (like a MBP), so it makes sense to get the pro first and wait a little for the iPad.

I'm liking this, and since I'm planning on get a summer job(I'm in highschool) so maybe I'll have enough money for an iPad by next year

...and if you're wondering why I'm up so early its because I think I have Swine Flu, ...again
 
Today I just sold my iPad 16gb. Using that money for the Pro. But I do see another iPad in my future. But maybe the refurb 3G or a 2nd gen.

I am having iPad separation anxiety.
 
I have a 13" MBP and am planning in getting an ipad when they come out in the UK ( :( ) and I think they are really two seporately uses. The MBP is perfect for really heavy word processing, using exel and all real 'proper' comuputing. The iPad IMO seems like something a bit more supplimentry. This, coupled with the fact that it has to sync to a computer means that I can't really see it replacing my laptop. It is perfect for planes, trains or road trips especially if you have the 3G.
 
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