Heck, the thing even displays animated gifs.
So does my laptop mate, and it's a hell of a lot cheaper.
Out here in Australia I'm shuddering to think how much the iPad is going to cost when it's released. I anticipate the basic 16gig wifi model running at least a cool $700, and it's only uphill from there.
I've seen a few videos, and they look kinda cool, but you're going to have to better than "it displays animated gifs!"