Finally you have a device that can keep track of your appointments, let you take notes at a meeting, and won't fry your lap.
I wouldn't be so sure. This *is* from Apple, after all, they've got something of a track record in that area.
You can do a crossword, read webcomics, and defend your civilization which is ever beset by barbarians.
So long as you pay for it. The reason I dislike it not having flash isn't because I love to see the wonderful ads every site throws at me, but because there's lots of games that are perfect time wasters that are made with it and posted all over the net for everyone to enjoy. Yeah, yeah, App Store and all that but that costs money, *real* money, which I wouldn't have to spend had they kept their NIH syndrome in check and put Adobe's little plugin in there.
And then there's the open-source games... Freeciv, Battle for Wesnoth, Nethack even! would've been awesome games to keep on such a device but alas, Apple's closedness bites us again in the rear. Perhaps some willing soul will port 'em for us and sell 'em on the Apple store but again, they'd cost real money too.
Me, I'm keeping my eye on MSI's upcoming Tablet PC, it looks like it'll take everything good about the iPad but combine it with an actual OS worth using.