Holy thread revival Batman!
As someone who has an iPad, it's okay for reading magazines, graphic novels, reference material/manuals and other such content that don't reflow well (albeit, I would appreciate something more lightweight). For reading novels, though, I really dislike the iPad. The text just isn't as sharp and smooth as on the iPhone 4/iTouch 4G or PRS-350. Another thing, while I find the iPad's weight tolerable when reading graphic novels, it's not really something I'm willing to put up with for text-only fiction which can easily be reflowed, particularly when the text on smaller devices is much clearer.