I told myself I was not going to get one. Made the mistake of handling one for a few minutes and then saw its potential. Not for everyone and not for everything but a terrific first generation product.
The Good
* Extremely well designed, crafted, and integrated. A real joy to hold and use
* Well built, lightweight, and terrific battery life
* A gorgeous crisp, clear, bright, and accurate touch screen
* Works, connects, and syncs just like an iPhone or iPod Touch
* Will run just about any existing iPhone/iPod Touch application (but at original small size or a 2x size with grainy looking resolution)
* Great for couch surfing even with its lack of FLASH (many popular FLASH heavy sites seem to recognize it and manage to present a good experience without flash)
* Great eBook reader (via iBook or Kindle) and Magazine reader (via Zino). Not quite as good as the Kindle's eInk screen for long text reading sessions but fine for shorter sessions and wins hands down for graphical and color content. I still prefer the Kindle business model and do most of my reading in the Kindle app rather than the Apple iBook app.
* Decent personal email and Calandar (but no Exchange integration so no good for work)
* Great Multimedia platform for viewing pictures, movies, listening to music, and playing games.
The Bad
* Closed system requiring a computer running iTunes to activate, maintain, and backup the iPad.
* Closed system with limited interoperability with other devices (external storage, printers, scanners etc)
* Closed system with no readily accessible file system so makes sharing files inconvenient and inconsistent across applications.
The Ugly
* This is a first generation device, so expect gaps in functionality, the odd glitch, and a lot of waiting for fixes and enhancements to both the firmware and software.
* Native software is very limited, much of it is very unpolished or has significant gaps at this point, and a lot of it is just not very good.
* Accessories are limited in availability and , priced high, and often not very well designed or implemented.