First let me point out that in the past I too wondered what practical use the iPad had. I pretty much thought that it was just an overpriced, oversized iPod touch. That is, until I actually had an opportunity to try one.
As I would seriously recommend anyone do before they make their final judgment. It is used for exactly the aforementioned. While it certainly is more restricted than a netbook, it Is also more portable.
Being considerably thinner and lighter. And you can comfortably use it while walking around, whereas the netbook was designed to be set down on a flat surface. Storage space is more limited, however that's because the iPad uses solid state rather than a hard drive.
It's a trade off for having apps load super fast and eliminating any moving parts that could break of jolted hard enough. While boot time may be about 15 seconds, in reality you can just leave an iPad suspended for an indefinite period of time. And it takes less than a second to wake up.
Netbooks do have restrictions. Specifically that they just aren't powerful enough to run many modern games and other programs. While the selection of apps in the app store is technically limited, an iPad can at least run every single one of them.
And if you jailbreak then you can even install apps Apple doesn't improve of, including a limited version of Flash.
I like to think of an iPad like a giant iPhone without the phone capabilities. :) iPad's are great for browsing the net and checking email but they really excel at gaming, video (especially Netflix), and book reading. I like netbooks as well but I tend to agree with the following iPad vs. Netbok comparison guide... http://netbooksandstuff.com/ipad-vs-netbook.
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