Pros:
Surprisingly fast and responsive.
More convenient to use that a laptop.
Can be used with iPhone/iTouch apps (1000's).
Amazing battery life (over 10 hours on our tests)
Excellent screen (clarity and size).
Alot of apps available.

Cons:
No multi-tasking.
Does not support flash.
No usb.
No SD Card expansion.
No webcam.


The first thing you may notice about the new device is its large display! (9.7-inch, 1024 x 768, capacitive, multitouch LED-backlit display) There is also the signature "home" button on the face of the device, a volume rocker on the side, headphones and power/sleep button to the top, a screen position lock, the standard 30 pin connector and a speaker to the bottom. The device has some "heft", at 1.5 pounds, but is still comfortable to hang onto at most angles. Considering the computing power of the tablet, a thickness that tops out at half an inch is pretty impressive, too. 


In terms of the specs, it contains a 1GHz A4 system-on-a-chip -- a single Cortex A8 core coupled with a PowerVR SGX GPU. Ram has not yet been revealed, but that's just a matter of time before someone open's theirs.  There is onboard wifi(802.11a/b/g/n) bluetooth 2.0, a digital compass, an accelerometer, microphone, and ambient light sensor. The 3G model adds UMTS / HSDPA data along with an AGPS chip. As mentioned above,  there is lack of expandability i.e no usb support, or sd support, although the company offers both of these as an accessory as a means to transfer photos and video onto the device. Also there is lack of a webcam, so no video calling via ichat or skype :( Another downside is where apple chose to put the headphone jack....to the top...... I won't comment on this....but............


As you may already know, the OS is the same as on the iPhone. For those out there who want a simple, easy to use device without complications, this is the OS for you... it's built on the same operating system, a derivation of OS X for mobile devices. Apple has added extra features to the OS to take advantage of the iPad's large display, however. (below was taken from engadget.com's site)

• Pop-overs (modals): Windows which pop up and hover above the content you're interacting with, used to excellent effect within the iPod app for displaying track listings when you touch an album, or getting information on books or music to purchase in the iBookstore and iTunes. These modals have their own navigation and points of interaction separate from the main content you're working with.
• Split screens: Exactly what it sounds like. Apple is using all that big real estate to break up what would have been multiple pages on an iPhone, dividing up the content into segments of the same screen. In the mail app, that means you can look at the list of your emails while keeping a message in view, or keep your multi-page work in Keynote available to you even when editing (think how Preview handles a folder of images).
• Tap-and-hold: Now, this is present in some places on the iPhone, but Apple has really expanded its use with the iPad, offering lots of situations where a long press gets you deeper, contextual interactivity and functionality. We're big fans of this gesture on other devices (hello, Android), and it's nice to see Apple putting it to better use within the iPad's UI. We hope this trend continues throughout the company's mobile OSs.
• Contextual menus: While tap-and-hold gets you some options for context-specific menus, the iPad interface is littered with other single tap buttons that pop open those same kind of options. The shift certainly seems to be towards these transient menus as opposed to paging through screens like we're used to on the iPhone.
• Toolbar drop-downs: Apple hammered on toolbar items with previous iterations of the iPhone OS, but on the iPad, toolbars aren't just links to deeper pages -- they're self-contained menus, often with lots of levels and options for tweaking the work you're doing. They are literally all over the iPad.
• Tabs (or Cover Flow) everywhere: You know how Safari handles multiple pages? Well that behavior is used throughout the iPad to navigate through files or lists of options. In Safari, as in other apps, the content is presented as a grid, while elsewhere it's a scrollable list akin to Mobile Safari's present use (or webOS cards).
• Nearly full-sized virtual keyboards: In portrait mode, we were able to tap out some messages using our thumbs, but we mostly did single finger typing. On the other hand, the landscape keyboard is big and totally usable. In fact, we were surprised at how quickly and accurately we could bang out emails on it.

The downside to this brilliant OS as mentioned before is the lack of real multitasking, therefore you can't run multiple apps in the background as you would on your laptop. Its either you are on MSN chatting with a friend or you are not. Some may not mind this, but personally I do. Another major downside to the device is the lack of adobe's flash support, so that limits web browsing, since over 90% of websites include flash in one form or the other. The browser would have been flawless if it won't for this lack of flash.


So is it a good buy? Well that's totally up to what you want it for. If you just need a device for browsing facebook, checking email, chatting with friends, and generally light work then this is the device for you! On the other hand, if you need to do multitasking, chatting with friends, while checking email, while watching an online movie then the best option for you at the moment is a regular laptop. Again, its totally up to you. My opinion is its build to do what it was designed for perfectly!