I think the iPad is a perfect in-between device. I have never been a fan of laptops, but I love using my iPod Touch to surf the web when lying in bed or watching tv. I think the iPad will be a great device to keep in the living/family room and to use as a quick web surfing tool. I can also see it used as a remote control.

I don't think it's enough to replace my desktop computer, but if I was in the market for a laptop/netbook, I would definitely try out an iPad as well. For me, the iPad can do everything I would need out of a laptop. Laptops are too awkward for me to be super productive. Anytime I need to do real work on the internet or on a computer, I always come to my desktop anyway.

I'd consider it a new niche product that isn't really designed to replace anything. If you're happy with your phone and laptop to do most tech related things, the iPad won't be replacing any of that. However, you may find new uses for it that you wouldn't think of right away. I love what mithrandir said about the possibility of using an iPad as a TV remote. That might sound odd to some people, but some of the Logitech Harmony remotes are already square rather than "stick" shaped. They're also already $400. I can also see them becoming a standard way to operate certain appliances that currently have their own control centers too. I'd love it if an iPad could control my thermostat or lawn sprinkler system. When you really start thinking about it, the possibilities are almost endless.

You might be right about that. However, I found Apple to be quite good at finding or creating itself a niche market, and build it out to a full blown market, for their product. The iPad may very well go the same way.

I don't envision many people going to carry the iPad around, like they do with an iPod. However, I do think it's going to be THE multimedia hub at home, especially at times when you want to look up something quickly, or use it to watch the programming guide for your TV.
It's easier to pick up than a mac, you don't have to open the lid. Just pick it up, and slide it on, and it's there. I really think that's going to be the greatest use for the iPad: a quick pick-up gadget around the house, allowing you to use it as a TV remote control, TV guide, and multi-media hub. That's something the iPod (Touch) can't do because its display is simply too small for comfort, and the mac is too cumbersome to quickly start-up and put away again.

So, there you have it, the niche market for the iPad!