how much do you think it is worth for the old 1st gen ipad?

At 800 to 900 ringgit.

hmm... the new ipad is around rm1500. For ipad2... is selling rm1200. That gives a 20% depreciate (after 1 year). So if we look at ipad 1... it should be around 40% depreciation... that would roughly pulls down its value to a price of rm900 (*i think) ^^ in any case, people will still pay good price for an Apple product. - hope this helps.