I would agree in that its definitely not a replacement for a laptop or netbook. I would highly suggest getting either an iPod nano or iPod Touch as the iPad isnt worth the $$. Its over-hyped & overpriced. Its just a bigger version of the iPod Touch in my mind. I was working late one night when I saw some guy driving & had it in his passenger seat.
Overall, if you want a really cool entertainment package that can play music, movies, & ability to read e-books, get it. If your looking for something that can do presentations, word documents, etc, & more, get yourself either a laptop or a netbook (based on your needs). The iPad is just a phase which I predict will fade quickly. I personally think Apple is trying to go after the Kindle, while so is Barnes & Noble with their "Nook" or w/e they call it, & another company came out w/ a similar device, but cant remember the name.