Looking at this oversized iPod Touch, presented yesterday by Apple (AAPL), I just don't understand, what is this about? For a computer, it's laughable, doesn't have multitasking, on-screen keyboard is a bad substitute for a real one. Networking with other computers at home is a big question. For a book reader, $499 is outrageously expensive. Add to this an interesting fact that you can only buy applications from Apple Application Store.
iPod, iPhone were revolutionary products. I don't see much use for iPad. Of course, Macheads will buy some number of devices, maybe even couple of millions, but I don't see great future for this product.
Of course, I might be wrong. I don't want an iPad, but I don't have an iPhone or a Mac either. Although my wife owns iPod Shuffle.
Full disclosure: at the time of publication author did not have any positions in AAPL. Positions can change any time.