I have the same model (2nd Gen, 64GB, WiFi Only) and love it. I bought it mostly for business and it achieves most 90% of what I was hoping it could do, which is:
a.) replace the multiple binders I use to manage various reports and references. No more constant printing and updating hardcopies. The iPad serves as a virtual binder and I always have the most current soft copy with me.
b.) replace the need to travel with a laptop. It is not a replacement for the actual laptop, but rather a great extension of it. Through services like Dropbox, or RDP, I can access everything on my laptop from the iPad.
c.) I was also hoping the iPad could replace the paper & pencil note taking system I use. Although there are some great apps out there for this none of them fully replace the efficiency. I am able to use the iPad for note taking in about 50% of my meetings. But if it need to refer to the notes quickly and often the moleskine (paper and pencil system) seems to work better for me.
I may be forcing a square peg into a round hold for all of these business uses for the iPad. However, what I haven't discussed yet is what the device was primarily intended for and it truly excels at - entertainment! The device rocks for convenient access to e-mail, internet, news, magazines, netflixs, books, music, movies. For business travel, the iPad is awesome as it replaces so much stuff you used to have to lug around. For home use and bee-bopping around town it is super convenient.
I also love it for the educational games my pre-school boys can play on it. It blows my mind the technology they have access to (and easily understand/use) at their age compared to what I grew up with.
