I was given my iPad for Christmas 2010. It failed around mid 2011 (don't remember the symptoms, but it just wouldn't work) and I could not restore it, so took it into the local Apple dealer. Apple replaced it. This second iPad failed by just shutting down. Re-setting worked for a while, but it kept dissolving into a black screen with random coloured lines and resetting it displayed a very quivery Apple symbol which gave way to the black screen again. Connected it to iTunes and restored it, but iTunes said to restore it again, which I did. This didn't work either, so took it to the dealer and Apple replaced it on 30 November 2011. This third one has now failed with similar symptoms on Friday 23 December 2011. Bugger! The dealer is closed until 3 January 2012. Not happy, Jan!
These iPads have not had a stressful life, unless you count playing Solitaire on it in front of the TV every night, which is about all I use it for. It's not as though I chuck it in the back of the truck, or play Frisbee or beach Cricket with it. I just can't believe this is happening. None of my 27 Macs (since 1990) ever gave me trouble, so this is a real let-down. I am just hoping that Apple will replace it again, even though the 12 month warranty has now expired.