
The Apple iPad is 0.5" thick, weighs 1.5 pounds, has a 9.7" capacitive touchscreen(1024x768), latest wireless technology- Bluetooth 2.1, and 802.11n, all the iPhone stuff i.e. the Accelerometer, compass etc. more specs here
According to me this a BIG iPhone/iPod Touch. Yes it has support for all the apps in the app store for the iPhone/iPod touch, the sleep/wake button on the top like on the iPhone/iPod touch, also has the "home" button.
This device is something between a phone and a laptop. The eBook app called iBooks allows you to buy ebooks and read them on a very advanced and high resolution LED display which should be an amazing experience. Photos, Videos, Notes, internet browsing, Maps, YouTube etc. should be really amazing. Also with the support for iPhone apps, the games on this larger screen should be really good. check here for more features.
There are some drawbacks of this though. Here are some:
1. NO Multitasking.... Again I don't know how could they do this! check earlier post on this here
2. No support for SD cards etc. so no expandable memory
3. No Camera
I don't understand why would someone who already owns a laptop + iPod touch or a desktop + iPhone etc. want such a device? Like you can buy it if you have $$$ and want an awesome eBook reading experience and want to check newspapers etc but then I still the laptops can do that, as well as do MANY other stuff. So I don't understand why someone would want an iPhone which is BIG in size.
It's good to get this device, if you have a desktop and then want mobility at your homes etc.
for pricing check here
So do let me know about your thoughts of the iPad in the comments please!