Newbie question about iPad 1st Gen

I'm a newbie to iPad (I've had an iPhone for few years though) and I'm in the market for a tablet. Mostly just looking for a tablet to read e-books on the couch or in bed, store pictures of family/friends to show to others, and occassionally play a game (mostly for the kids though).

I'm really on a budget of $300. Although I haven't put my hands on a iPad mini yet I have put my hands on the 7" tablets like the Kindle Fire. I've really determined that I more in the 10" tablet category. I've also been looking at the ASUS Transformer and Infinity.

I still keep coming back to iPad though. So, I've been looking on Craigslist and also the Apple refirbushed store. I can get an iPad 3 refurbished and shipped to my door for $410 but that's obviously more that I really have to spend plus that doesn't include anything like a cover or screen protector.

I also just found someone that has a 1st Gen iPad locally that is willing to sell for $200 (no cover, only screen protector). So, my question is....is the 1st Gen iPad still something that is good for that low of a price? Is there a limitation on the iOS that can be installed on it (does that even really matter for what I'm looking to do)? I'm also concerned about battery life...the fact that eventually batteries don't really hold a charge very long. I'm worried an 1st Gen's battery life might be close to being done.

Part of me thinks I should wait just till at least this weekend to go put my hands on a mini to make sure that I couldn't live with that size since I could get one for about $350 after tax.

Opinions or thoughts???

Paying $200 for any iPad 1 now at this point is a bad purchase. It's an obsolete product that's been out for 2+ years. It has limited RAM, so as more and more apps upgrade toward newer, better firmware, you're going to run up against probs. It also will get no more firmware upgrades.

I have a top of the line iPad 1 -- 64GB 3G model -- and would feel like a scammer if someone paid me $200 for it.

I have an iPad1, iPad3 and a mini on the way. I use the iPad every night on the couch for internet browsing. So which one do I grab, the 1 or the 3? I grab whatever is closer, both do a great job on internet browsing. The retina display??? Can hardly tell a difference. The 3 is quicker, but for casual browsing, doesn't make that big of a difference.

I've had my iPad1 since release and have used the hell out of it. The battery still works great. My two kids abuse it daily. Still runs great.

My only complaint about the iPad1 is no camera and it won't play some of the better more modern games. And without a dual processor I can't mirror to Apple TV.

The best deal out there right now is a refurb iPad3 for $379.