I have been getting this question A LOT and always promised a blog post…so here it is.
I have had an iPad since it was originally released in US, thanks to Mark Miller queuing for me at the Apple Store in New York and sending it to me in Perth 
My primary original reason for purchasing it was to replace my Fujitsu T5010 Windows 7 tablet PC as it is smaller and lighter. I had already retired this laptop as my primary workhorse…thanks to the massive requirements of SharePoint 2010 from RAM perspective and upgraded to a Lenovo W510 which I can’t recommend enough!
I was (and still am on W510) a bit OneNote 2010 user. On the tablet it was great to have handwriting support with the WACOM pen and the ability to leveraged Microsoft’s underrated handwriting recognition search support to find things amongst all my scribbles!
Penultimate
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So the first thing I did when I got the iPad was start looking for a OneNote replacement. Unfortunately…there isn’t one. I’ve tried absolutely everything on the marketplace. The only thing that comes close to that experience from a writing experience is Penultimate. From a Stylus perspective…there are some you can buy on eBay but they only lasted me about a month before they started “wearing out”. I have tried A LOT of them too (soft foam tips, hard rubber tips etc.). But I since found the Stylus Socks which are both cheaper and still haven’t run out after 6 months!
Penultimate has been great for me and it has improved a lot in terms of multiple notebook support and navigation around notebooks. The killer request would be that cross notebook handwriting recognition search, but its not there “yet”!
I do find that I double up, much like I did in OneNote actually with typing up notes for meeting minutes. But luckily in my new role I don’t tend to do that much so can leave them all as unofficial scribbles!
So other than for a note taking in meetings, what else do you use it for?
Bedroom (and toilet) surfing

Whenever I try and walk into bed with a tablet or notebook computer, I’m immediately gruffed at. With the iPad, there is no gruffing…not sure why as it pretty much does exactly what I do on the other two devices!
Essentially I use it to surf the web, check my mail, catch up on Twitter and Facebook.
Pulse news Reader
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Pulse is an amazing app that should be installed first on the iPad. It allows you to add RSS Feeds (and pick from popular ones directly in the app) and it cleverly picks a appropriate image as an icon. It makes for a great experience for me getting through my gadget tech feeds each evening!
iAnnotate PDF
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I often want to read PDFs on my iPad. I dump them on my PC to my DropBox and then can open them in this app. The great thing about this app is I can annotate the PDFs. This is awesome if I have to fill in a form as I can actually write on it with my stylus and then send it as an email
no more printing and scanning anymore! Paperless for me for a long time!
Popplet
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I absolutely loved MindJet MindManager on my PC, apart from the price ofcourse. Popplet is a great little mind mapping tool for the iPad. I actually planned my whole Wedding Speech on that and printed it out as prompts during the big day! Love that for initial brain dumping or planning out articles.
NHL Game Centre
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I am a HUUUUUUUUGE NHL fan and in Perth where nothing is screened and sitting in front of a laptop with in burning you private parts is not my idea of a night in. The iPad has a superb interface to these videos and use this a lot to catch up over breakfast on the playoffs etc. The one thing I’ve noticed now I’m in New York is that some games are “blacked out” because they are local, which means I need cable to watch them!
Formula 1

I’m a HUUUGE Formula 1 fan and had the app for the iPhone and before that used to sit with my laptop running next to the TV with the lap times pinging up. now I have a full real-time…yes REAL-TIME…3D…yes 3D map of the track showing all the cars during the race! Plus laptimes etc. It’s an amazingly immersive experience. I’m surprised that you don’t see them on grid day yet.
iRig

I recently bought an awesome Fender Deluxe Stratocaster electric guitar and didn’t want to buy an amp until I moved to US. iRig gives me the ability to plug my guitar into my iPad and use it as an amp and then pass the sound output into my head phones or any speaker I want!
Osmos
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A retro classic brought to the iPad and I must say…at first I was like “what’s all the fuss about”, then someone gave it to me and I couldn’t put it down!
Scrabble
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This game was awesome as a kid, and having it hooked up to iPhones and iPod Touches as Tile Racks is simply ingenious!
FlipBoard

FlipBoard is like Pulse is to RSS for Facebook and other social media. I love the way this takes the old magazine paradigm. I do find myself going back to the basic Facebook web site as I can interact with things, but it is beautiful to see.
Would I buy an iPad 2?
Nah…as Andrew Connell mentioned in a recent SharePoint Pod Show “I don’t want to pay $800 for a front and rear facing camera”. Granted it’s thinner, has a quicker processor but that’s about it. It’s a incremental upgrade…think SharePoint 2007 SP1 