To me, IPad is a "so-so" device. It's a nice gaming system, but very pricey (from a gaming standpoint). It's not really a productivity tool because of the lack of keyboard/applications. It'll do in a pinch, but nothing long term.
You can't read it as a ereader because the LCD hurts your eyes and is too heavy (Kindle is *SO* much better as a reader).
It has a nice interface, but not "out of this world" good.
So for me, it's just OK, but nothing to get too worked up about.