It's perfect as a travel companion, because it fits nicely on airplane tray tables (with room for your drink/snack) and if the person in front leans back, the iPad isn't really affected. It also fits nicely into many of my jacket pockets.
When I had a Mini, I used it for the same sort of stuff...browsing web pages, online shopping, notes, Twitter, games, reading, Netflix, etc. Even after switching to 9.7" iPad, it took about 6 months to get used to the bigger size. I'm used to it now, but I think I could easily and happily go back to the Mini 5 (I won't, just because it's a bunch of money to spend for no practical improvement)
It's certainly not too heavy or bulky for a bedside companion. In fact for bedside, I'd say bigger is better because you don't have to carry it around.