The iPad for me is an entertainment gadget rather than a device to replace laptops or even netbook. Each device is targeted for a particular purpose. If we try to carry out tasks that other devices are meant for we will be disappointed. I use mine for reading ebooks and pdf format magazines and books and the screen display makes reading a great experience. I own a Nook and an iRiver ebook reader and the iPad makes reading more enjoyable. Web browsing is an additional experience. But seriously if you want iPad for serious work, better get a lightweight laptop. My opinion.

I use my ipad to read pdf ebooks - science text books (Biology, Physics, Chemistry, etc) and encyclopedias - reference stuff which I use in my work as an editor. Imagine carrying those thick heavy books around. Now I don't have to. It reads these large files (up to 120 MB) with no problems, and fast to open, too. I use Safari to check my emails from contacts - which it does very well. I read the current CNN news as they are featured.

For serious work and portability I use my Samsung N150 netbook.

These two combinations are good enough for me. No need for ipad 2.