Pros:
eBooks - While it remains to be seen what kind of eye strain its standard screen might cause when it comes to ereading, compared to the e-ink used on most traditional ereaders, there’s no arguing that the iPad is the coolest ereader on the market.
Gaming - The iPod and iTouch have already proven to be wholly worthwhile gaming platforms all their own. The iPad puts everything that they can do into a much larger, far more powerful device.
Multimedia – The iPad is an extra large iPod Touch used to watch movies, listen to music and view pictures.
Internet – With a strong wifi or 3G connection, Internet use is very fast and easy to use.
Cons:
No Webcam - Maybe in the next version.
Work Productivity Applications – There are very few product applications on the market that are Apple approved. Those that are available usually don’t run like their desktop equivalents.
No Flash support – Adobe and Apple don’t play nice together when it comes to that type of HTML video.
No Multitasking – You are able to only launch one application at a time.