I think Frogboy is right:

http://frogboy.joeuser.com/article/374565/The_iPad_Who_names_these_things

One, I currently use my iPhone to browse the net in the evening and its tiny screen is a bit of a bummer at times. I have my beloved ThinkPad T400 but it is a bit too heavy to just have sitting on my lap to surf the net and its form factor doesn’t lend itself to reading.

Two, I use my iPhone for watching movies while I work out and it’s small screen is annoying for that. I don’t use the laptop because, again, the form factor doesn’t let me easily put it up on things.

That's probably where the device will succeed. There are many people in his situation. I too find myself surfing the Web on my iPhone while sitting on my sofa. I bought a netbook to solve that problem, but found that when I am not at my computer I am not really surfing the Web a lot or do very much except read. Hence the netbook is overkill and the form factor doesn't lend itself to not being in the way.

(Thank goodness I don't have this "X limitations to it" problem. I like my netbook and would never have bought it if I had that attitude and wouldn't buy Windows on principle because of the obvious limitations.)

Someone at Apple has obviously been watching too much Stargate Atlantis.

I keep seeing in my mind someone holding this huge thing up to their ear and talking on it.

"No.  It's a portable phone!"

Can't remember what movie that's from...

iPods, IPads, MP3 players, blah!  Waste of money, all of them. 

Maybe.  But I'd also want an iMac so that I could develop for it.  I'd take one as a wedding gift.  

Even iCash? I hear it's like real money but it only has half the value and it's shinier.

God no!

Still no.

And here's one for SNL's "Really" segment.

ipad name draws feminine hygiene jokes

That market is already owned by cheaper and/or with more functionality netboots, laptops and convertible tablets. I don't think a lot of people are in the same situation as Frogboy where a iPad will do the trick but a normal computer won't.

And the smartphone market was already owned by cheaper and/or with more functionality phones and PDAs with phone functionality.

Just like the MP3 player market was already owned by all those MP3 player companies.

Apple are particularly good at redefining and taking over existing markets, especially those that already have a clear pecking order.

I am in that same situation and bought a netbook partly to solve that problem.

My guess is that many people are in that same situation.

I haven't heard about the iPad until it was announced.....makes me feel out of the loop....

Thing that annoys me is that the announcement DIDN'T SAY WHAT IT IS!   It talk about what it can do and stuff but doesn't say what it is....is it a small laptop?   Is it a scaled up iPhone..?    Next time rotten apple, compare to something that people know about so I know what the hell I'm reading about!

No, I won't get one as I don't see a need for one.

I guess that aux input jack in your Camaro won't be getting much usage.

It'll probably make a great netbook replacement. But as an e-reader, it should be called the iFail. Who the hell would want to stare at an LCD screen for hours on end reading. You may as well just read on your current PC with a flatscreen. This thing is basically a large iPod touch with optional 3G.

Note, I do have both an iPhone and iPod Touch, so I am not a complete Apple hater.

Nope, don't really need it, but it came with the car. 

And for all you pirates, here comes the iPatch

Arrr mateys, mi iPatch never looked so good, arrr...