Got my hands on an iPad today, and must say it exceeds my expectations.
Yes, it is a large iPod Touch. And that's a good thing, as the iPod Touch is a very useful instrument.
Where the money is, I think, is in App development for the professional market. Consider the usefulness for the consultant, or retailer, or contractor, who, with the right App, could create invoices, check SKUs, or lookup availability of products with the virtually instant-on, single purpose model that the iPad/App can deliver.
Yes, the Touch or iPhone can do that too but the large format of the IPad makes it easier and less error-prone.
Sure, it has other uses, for Mom to see her emails and such. But for the businessperson-in-the-field, I see huge promise.
All that, and it feels better than it shows. Back up the truck on AAPL.