As far as dropping - I'm kind of 50/50 on that. I think it is reasonable to expect a drop after the rise that Apple has had - but the other iPad shoe is still left to drop (hopefully this week) with the 3G's. Probably another bounce with the release of 4.0 and then the sales in November and December - probably followed by iPad 2.0 next spring.
There's also one other thing that has been bouncing around in the back of my head for a couple of weeks now - what about a stock split? This stuff seems primed for a 3 to 1 or 4 to 1 split. Wouldn't YOU like to have $20M sitting in the bank waiting for this to split 4 to 1 -- and then go in and buy 4 times as many shares at the lower price? And then watch the price double over the next 2 years?