So it's the iPad.
And it's exactly what I thought it was going to be. Basically this is what you'd get if an iPhone had a one night stand with a Kindle. At $500 it's affordable than what I thought so I may be getting one for the heck of it.
So now comes the interesting spectator sport that is; watching third party companies develop stuff for this new device. Personally I want to see what they come up with as far as drawing is concerned. A drawback could be the screen. Pressure sensitivity and stylus compatibility are two major challenges which could be offset by the quality of the simulation. If it's the same as the iPhone screen wise then they have an uphill climb.
As bulky and even low-tech as the Modbook is, (compared to the iPad of course) I know it was designed with a pen input and I can depend on it for art. As eagerly anticipated as the iPad was, it's not as big as my anticipation for the Moodbook Pro which will be the ultimate in portable workstations.
If you already own an iPhone, one great feature on the iPad is that you'll be able to run all your iPhone apps. This means drawing apps like iPaint or Sketchbook Mobile will enable you to use the screen to draw with either your digits or an input device such as the Pogo. That's great if you're Picasso or Van Gogh but when it comes to precise input control for drawing, it simply won't cut it.
It's pretty clear: The iPad is a mass consumer product much like any of Apple's products. As much as Apple computers dominate the graphic arts world, it is a very small percentage of Apple's market. That is the reason why companies like Axiotron are necessary in satisfying that small but niche market.