I'm no geek (just don't ask my kids) but Flash seems to be required for some videos and certain graphics. Apple wants to have complete control over their products and should be developing a Flash alternative.
The iPad is not as portable as a smart phone but it is more portable and accessible than a laptop. I think Apple shuns the comparison that it's between the iPhone and the MacBook but it kinda is.
The uses for this thing are incredible and are only held back by your imagination. Doctors carry them around the hospital full of your records, x-rays, etc. Universities can put their text books and lecture materials on them. Large dept stores are using them as full-line catalogs for associates to carry in the stores to help you shop. The music industry seems to like them a lot.
But honestly, what more do you need than the ability to watch a West Coast baseball game at 10pm our time? That's worth the $600 right there!!!