Our iPad arrived a couple of weeks ago. We use it to test iPad’s version of MobileNoter. While all previous comments and comparison to the rock still apply, there is a new problem with the iPad.
It is surprisingly heavy. So heavy that it is definitely not going to become a widespread household device that everybody wants. The iPad is nice, sleek, and all that. But when you take it into hand, you immediately realize that it is just another computer, not a miracle device.
Most modern netbooks and tablets (iPad included) are powerful enough for average Joe. They can render sites, play YouTube and even run sophisticated games. Thus device weight and battery life are becoming the most important features and main differentiator. The iPad doesn’t have any significant advantage in these categories against netbooks. So the battle with netbooks is not over.

iPads are gimmicks. The lack any serious processing speed or heavy work load capability, which essentially means they are worthless IMHO.
A battle is never over while at least one of participants goes on.
But it seems netbooks are really loosing http://www.boygeniusreport.com/2010/05/26/retrevo-30-ipad even though Jobs says iPad has it’s own segment different from netbooks.
And with current stats on user satisfactions for iPad at 91% (citation missed but you can google it easily) iPad is a win, while netbooks are usual hit or miss – people are not very satisfied with them and try to sell or swap them frequently.