I am also puzzled. And, after trying various alternatives (we have been purchasing for our department - I teach Finance and we all read lots of PDFs with graphs, tables, etc.) I think the iPad is still the clear winner. Clearly, it is a bit outside of the budget, but well worth the extra expense. And you can make do with a first or second gen without 3g and with lower storage - should be able to find one that fits your budget. Get a stylus and iAnnotate and you will be set.
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