Mount them everywhere: The price point is great. How about mount them around the house or office as informational display -- works with any system that has a browser interface. Leave one in the bathroom for, browsing... Education use: Again, at $499, and with a great intuitive touch UI, give them out to school children for reading and drawing and doing physics simulation.
Lack of camera: Otherwise AT&T won't give Apple the sweet $30/month prepaid unlimited data plan.
Will not work with standard Bluetooth Keyboards: unfortunate. Otherwise makes a great netbook replacement.
The perfect personal movie viewing device: obviously. BUT it probably can not iTune stream from family main system like OS X iTune can. So need to download and purge all the time? The work flow is a little dated.
Kindle is dead meat. Unless there is something strange/bad about the iBooks book marketplace. Of course, I can run the Kindle iPhone app or the presumable Kindle iPad app. I love my Kindle, but with an iPad, I can make notes much easier, say with an EverNote app.
Doesn't it make a pretty cool big GPS for your car?
It is going to make touch screen devices mainstream. Sci-fi visions coming true.
Finally, make sure you buy it with a credit card that has a no-question ask replacement policy, in case you dropped it !