The real power of the iPad is the extensive library of applications or "Apps" that can readily installed. The iPad is really a blank slate! It's functionality and usefulness defined by the software installed on it.
desktop.onlive.com/ - Microsoft Office on the iPad
Good Resources for Apps.
- iPad As... - This website looks at the iPad from a functional perspective and tries to map Apps to those specific functional group
- CSU San Marcos Recommended Apps - CSU San Marcos has compiled a great list of useful iPad Apps
- 5 common iPad App Questions Answered - Blog post highlighting places to get Apps and how to evaluate resources.
- EducationTnt-iPad Applications- A good list of Apps for instruction and personal productivity.