As a father of a 1.5 year-old who loves the iPhone, this looks very familiar. But toddlers pick up on all kinds of new things incredibly fast, so I'm not sure this tells us much about the learnability of the iPad for computing novices of any other age group.
It seems easier than the typical desktop/laptop, but there are many subtle interactions that have to be learned and practiced to use the iPad. I would like to see how well a 60+ year-old without prior computing experience interacts with it.