Superbike81,
There's a reason why you don't see classrooms across America filled with laptops, and it's not just financial. A computer is too much machine for the Middle School, and High School environment. Sure, there are some select cases across the US where computers have been successfully integrated (Cincinnati Day School comes to mind), but for the most part, it's a matter of a few machines at the back of the room. I've seen labs outfitted with lap tops, and that has some success, but what I'm talking about is a 1:1 solution. A few schools were able to go 1:1 with iPod touches, but that was before the iPad came out. The iPad just happens to be the right amount of machine for the High School environment.
Businesses are also starting to realize that the iPad is the right amount of machine for many of their mobile employees--a high school student is very much like a mobile business person: moving from class to class in short blocks of time. In such an environment, the ratio of access to creation that the iPad provides is ideal.
We know that Apple didn't intend for the device to be used in this way, and we know that Apple is wisely trying to stay away from the networking market. However this device fills a need that has not been previously filled by the laptop.
We're already successfully using the iPads in over 20 classrooms, so I don't think your "waste of money" comment applies. I'm just a bit overzealous about words like "multiple-tasking" because my needs are so specific: as you said "1/10000". However, if the visitor traffic on my campus is any indication of the future, not to mention the constant attention from Apple corporate, then you might see the iPad being used in many more classrooms than anyone expected.
Because we're first (or one of very few) that are implementing iPads in the classroom, it's tough trying to get things working the way we want. Nonetheless, we believe the iPad is the way to go for the future, and we think that in the future, tablets like the iPad are going to be the only thing in the hands of students. Regardless, it's a lot of fun trying to do something for the first time!