I have both a MacBook Pro and an IPad and if I were in the market for a new computer I would still consider a laptop. I bought the iPad to serve as my larger print, highly portable super sizes smartphone because essentially that's what it is. It's my travel computer and I use it primarily for reading blogs, some books, and emails. When I first got the iPad I was disappointed that the iBook selection seemed to be rather lacking. I think the selection has improved now.

Right now I am sitting in bed typing this response on the iPad and I brought it with me in the hospital to keep friends updated. It is much easier to pack around rather than a laptop in that respect.

On another note:
Rumor has it that Apple will be releasing a totally redesigned iPhone that will look like a scaled down version of an iPad. It could be available this summer.