Like many others today, I eagerly awaited the 10AM announcement and watched multiple “live blogs” as the event took place.  My takeaways: the iPad is underwhelming but may be a good start towards a product we’ll all be using regularly someday.

Lets look at the good:

• Easy, portable web browsing: Definitely something worthwhile, the ability to browse anywhere via 3G on a larger device will be life-changing for commuters.
• 10 hours of video: If this is true, then Apple has created an entertainment device that can fly from LAX to JFK, and even entertain you during a delay.
• Tie into iPhoto: Don’t overlook this – this device in your home is the portable photo gallery that you can display during a dinner party, without taking out the giant notebook computer or moving to the room where the computer is – of course, you’ll have to sync first to get them all on the tablet.
• Newspapers & Magazines: This device lets you view these in the design they were intended, as opposed to the Kindle or other readers.  Directly embedded video takes the newspaper into the “Harry Potter” age with more of a rich media display.
• Easy to use: Lets face it, this device will be great for grandmothers who just want to email kids and browse the web.  There is no getting around that.  This device has finally taken electronic commerce, multimedia and communication and combined it into a device that is a no-brainer.
• Price point: $499 to start is compelling.
• GSM Unlocked!  Amen!  This is tremendous, and finally someone has decided to do this. And, the deal they got with AT&T isn’t all that bad, either.

But alas, I did say that the iPad is underwhelming, so here are a few missing features that I feel should have been included:

• Why, oh WHY, is there no webcam?  An integrated webcam allows users to iChat with others in the way that we have all come to know and love.  3G wireless video chats enable people to connect from anywhere.  This is almost a killer app, all by itself.  I understand that there may be bandwidth concerns, but even in that case, why not relegate the video to wifi connections?
• Multitasking: There really isn’t any way to do this.  That is a limitation to something that was defined as a 3rd device between a smartphone and a computer.
• No expandable media slot?  Why is there no ability for a user to plug in their SD cards?  If this device was 250GB, had an SD slot and allowed me to backup my digital camera files, then it becomes a replacement for my notebook on the next trip I take.  But it doesn’t do this…  So I’ll be hauling multiple devices.  Of course, unless the “Apple Camera Connection Kit” is really easy to use (and works with RAW files!).  But then again, you’ll still be relegated to 64GB of storage.
• Can we read on it?  Anyone with a Kindle, who tried the Kindle iPhone app, knows that the real thing is much easier to read.  How will we be able to read on a device that eyes aren’t meant to focus on for long periods of time?  Lets face it, LCD displays are eye-killers.  The Kindle and other e-readers have come a long way in regards to eye comfort.
• Storage: 64GB is nothing by today’s standards.  That is only a few full length movies, plus some pictures and not even a real users music library.
• Durability?  Please send photos if you are the first person to drop one.

Now, if the device is underwhelming, is the concept?  Not really.  In fact, the concept is long overdue and this is a tremendous first step.  Think about the possibilities that exist for these devices…  An entire industry was launched today – tablets will be coming soon to an industry near you – really soon.  How about some of these possibilities:

• Restaurants: If I had time and funding, making a set of apps that send orders from waiters straight to the kitchen, and being able to work on an iPod Touch, iPhone and iPad, connecting to a process running on a Mac Mini in the kitchen…  Not a bad concept.  You can even charge things on your iPod too (check out SquareUp).
• Airports: Roving employees with tablets, able to do quick checkins for passengers on line.  Think about what some companies have already done…  Ever return a car at Hertz?  They charge you and print the receipt right there.  No need to go anywhere.  This tablet will enable the travel industry to put their employees out on the floor and not behind a desk.  Read about the Air New Zealand Concierge and how they have aided travelers on their long-haul flights.
• Teachers: How about apps to handle grades directly on the tablet, as opposed to something bulky and confusing on a notebook?
• Travel & Destinations: This one really excites me.  You go to the iBookstore, you download the DK Guide to say, Paris.  You walk with your tablet, and the GPS directs you from location to location, based upon a list of places you deemed as “Must Sees”.  The DK Guide explains the highlights, points out decent photo opportunities.  Recommends some restaurants around the Eiffel Tower…  Maybe the map even shows you other tourists nearby and their hometown.  Powerful stuff.
• The Gym: You are on the elliptical, and you can watch videos, listen to music and browse a magazine…  Multiple mediums can entertain you while you work out.

Finally, the advent of the tablet era will see a slow, painful death to some of these consumer items:

• Magazines & Newspapers: Why waste paper?
• Maps: Same as above, but also add in the GPS capability.
• Photo printing: This thing can serve also as a photo frame when its in its dock.