Lets presume its about €700, colour with some form of the iPhone OS and wi-fi and perhaps a 3G SIM slot (or tether to the iPhone) and cheap offers for subscriptions to Magazines and newspapers (bypassing the need to pay for the forthcoming changes to some newspapers current free content access). Now tell me why I would pay for something that will need a recharge faster than a kindle, be heavier and more expensive and all so I can read the newspaper online (when we can access mobile content on our iPhone) and view magazines (to which sales of all are dropping anyway even with fewer adverts ).
I think it sounds like the ultimate eReader but I still can't see the benefit. Everyone needs a mobile and perhaps a computer but an expensive oversized one? You don't have to recharge your Irish Times every 2 days...

Wait and see what comes...
Apple have a knack of surprising everyone and revolutionising industries leaving incumbents trying to figure out why they didn't think of it first.

Quite. Lets see what Apple come up with before passing judgment.

Whatever it is, we'll probably want one anyway

Gawker.com has this to say: http://gawker.com/5509877/the-ipad-backlash-is-here?skyline=true&s=i

The comments are worth a read, too!

It is no use to people with iPhones or laptops but not everyone has iPhones etc. Also it is not meant to be carried around as a giant phone and presumably it is maddening to iPhone or laptop users.