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Note that the Sony Touch Edition is $300 and is similar to the Daily Edition ($400). Main things lacking in the cheaper one are:
-3G for sony book store. But you'll want to use other book stores also and the 3G won't help you there.
-Landscape, 2 pages to a screen, viewing mode.
-I think, also, it doesn't crop margins on PDFs.
-Screen is 1 inch smaller.
-8 levels of grayscale rather then 16.
The more expensive daily edition does all those things and comes with a cover and hard-case.
I wouldn't buy an iPad yet. Apple tend to screw early adopters so you might be better off waiting until they release v2 or v3 of the device. The iPad is a very closed platform in general and it looks like other companies will slowly be releasing more open tablets based on Android.
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