I'm not sure if it is over priced, Sure I would love to get the 64G Wi-Fi 3G model for 499 but when you think about all the tings that you can do with it that in the past you could do with separate devices...
Foe example, you no longer need a portable DvD player, no need for a portable gaming consule, if you are a student no need to buy and carry 600$ worth of books each year (mind you that probably won't happen until next year at the soonest), also for students, there are alreasy iPhone and iPad 3rd party stylus for sell who here don't think that there are several "notbook" apps in the works as we speak?
I don't know if I would get the Wi-Fi only model or also the one with 3G, luckey for me the iPad won't reach Israel until august so I have time to learn from other users experiance, hopfuly until then the number of iPad apps will continue climbing.
I already got solutions for the current lack of proper notbook like apps (thos that will alow you to write on the iPad like it was a regular notbook but will add all the cool fetures that a tablet can add, for example zoomable grid) i already scan my lecture notes and send them as a PDF file to my email every day but I hope that until the summer more organic solutions will come out.
Oh, and I realy realy realy want to have elemental on the iPad, if there is one game that I would love to be able to carry with me and that wouldn't suffer from touch interface it is Elemental.