I too see the NC as a toy because that is the only way I would use it. I can't fit it in a pocket, so it wouldn't be an option for me to use it as a replacement for my T/X (PIM, MP3, Video). I could carry it in my briefcase, but I already carry my netbook, which was the same price as the NC and has more functionality. I feel the same way about the Ipad. To me it's just a more expensive toy.
YMMV but for me I wouldn't get any serious use out of it.
If someone came to me and said they wanted an ereader, I'd point them to the nook every time.
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