The price isn't too bad. Considering the expectations before hand. To make a comparison, the equivalent Kindle (same size screen) is only $10 cheaper than the entry level model iPad (16 gig, no 3g). However you can also surf the web, watch video, play games and music. The colour screen will trounce the Kindle when it comes to some textbooks and newspapers. Considering this is Apple, I am impressed at the price.
The comparison to netbooks is also not apt IMO. The iPad could be better at a lot of the issues netbooks work on. Netbooks are mostly designed to surf the web and the web surfing on this device seems like it will be wonderful, the screen looks perfect for it. Anyone who uses a iPhone will know how well it works and how it's main limitation is the size of the screen. It will also be a ebook reader with a heavy focus on more glossy publications not served by any device so far all that well, namely newspapers and magazines. I also think there will be a heavy focus on games. This isn't a netbook or a laptop. It's a media device thing.
I can see taking this on holiday when I just need e-mail/internet/video. (The email client looks lovely too).
The main drawback against networks is the lack of physical keyboard, we'll have to see how that works.
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Video:
http://www.engadget.com/2010/01/27/a...irst-hands-on/