In most of the Mac related places I go on, I haven't heard very nice things about iPad 1st gen and iOS 5 in general. Most people have stuck to iOS 4 instead.
The problem I used to see in the app store when iOS 4 popped up is that people got pretty mad because most of the new apps needed stuff like a camera and microphone and the iPod Touch that came out previously didn't have it. I think it's very hard to support a device that doesn't have a camera, microphone, or gyroscope. It would feel like you were buying half baked apps on it and a good chunk of the app store wouldn't be supported at this point..
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