The pilot program will start with 125 students in various fields and several classes. They are talking saving an average of $100 per textbook. If the student buys the iPad on their own, it would not take long to save money. As to the textbooks, each professor specifies which textbook is used for the classes they teach. If the college specifies a format, then the professor has to pick a text book in that format. They can also be in a position to force the publishers to deal. There are a lot of details that would need to work ou,but it is doable. OSU also uses iTunes and Youtube in class work.
It may take time to make it work, but when I think of the possibilities it staggers the mind. And a stylus is available for the iPad, and may become a popular accessory.