Erm...first up, its looks awesome! Its sleek, its stylish and from the looks of it, its very user-friendly. Browsing the web seems to be quite easy, and the touch screen is well...awesome to say the least (since Apple is using the same precision touch screen as the iTouch and the iPhone). The iTunes integration, the iBook Store, iWorks all seem to be really cool stuff. And it comes with that 'Apple' tag!
On the other hand, the cons cannot be overlooked. It suffers from the same problem as the iPhone, the absence of multitasking. Now if you're into third party apps (most of us are), then the absence of multitasking can be a bit of a problem.
The screen is not exactly widescreen, neither is it 4:3. So, I really dont know how widescreen videos would look on the iPad.
The absence of Flash support is something which will bother all of us, surely. I mean, can you imagine browsing the web without Flash?
It features no HDMI port. This should not be a dealbreaker but frankly speaking, quite a few netbooks these days feature an HDMI port and that could come in pretty handy sometimes.
This is my biggest problem, the maximum flash memory the iPad supports is 64GB. Tell me something, if you plan to watch movies from your hard drive should 64GB suffice? After all, a few MP3s can occupy a few GBs.
The real deal, some say, is the AT&T data plan which comes with the iPad. But since that plan is only applicable in the US, I wouldnt give much importance to it.
In conclusion, its a mixed bag really. Stunning looks, great interface, mediocre functionality and connectivity.
Will I get one? I think I'll wait for a second version of the iPad.