Apple Announces iPad

Actually, it doesn't need to be 'cuz it's not supposed to be. As someone else very astutly pointed out here it's a "Content Consumer", meaning it's really taking dead aim at Amazon/Kindle; it's a glorified book reader!!
Apples lining up of all the publishers before release should have been our tip off, this is made to link AppleCores up with the World Wide Web through it's istore where you can buy, duh, books, newspapers, download videos, watch utube, whatever entertains you. It's an entertainment device and as such they are going to end up selling a hellof a lot of them.
They will end with the last laugh I'm afraid. Making money is the real name of the game. If you want a computer, well, they'll be glad to sell you one of those too, for a price.