Here is my take on the ipad or any comparable tablet...
they do not compete with a quality laptop...period..
I agree. If someone said you can have either an iPad or a good laptop I'd opt for the laptop due to the nature of my work.
On the subject of the novelty of the iPad, for me it's not a novelty. I've dropped all paper subscriptions to newspapers and magazines because they are delivered digitally to my iPad. I no longer have to carry multiple binders to gigs with lead sheets, they are all stored in my iPad. When we travel my wife and I watch movies in-flight.
I do dabble in photography and there isn't really a better way to display some of the work I've done. I'm also able to print docs on the fly wirelessly as well, very handy.
Not all is novelty but for the average Joe or Jane it can be.