Being backlit, the screen of the ipad is quite bad for reading e-books etc.
A decent solution could be inverting the colours, making the pages' background black and letters white.
It would also cut a bit the power draw.
I see it as a big portable thing to use at home, instead of carrying around a laptop to write something or browse the net, emails etc.
not much more.
the lack of flash support is horrid, it cuts out a good portion of the whole internet experience.
if you drool over useless (but admittedly funny/interesting in some cases) apps it could be worth buying if you had some spare money.
along with this:
http://www.thinkgeek.com/stuff/41/iCade.shtml