For me it's just a very expensive browser. I spend 10 hours a day in front of a computer screen at work. When I come home in the evenings, I like to minimize my screen time. I usually limit myself to checking email/facebook/twitter for about 5-10 minutes only. On weekends too, I like to spend less time in front of a computer. And if I do, it's work, so I have to use my work laptop.
So the iPad did not really make any sense. Check email, check out CNN, HN and check out twitter. 5 minutes a day and $600?
The other thing I noticed is that there are significantly fewer apps for the iPad as compared to the iPhone. And iPhone apps look plain ugly in the iPad.
Basically seems like an overkill for me. I know, different strokes...