I bought my iPad last April; it is wi-fi only, because for my purposes I don't see me ever using it outside of a wi-fi area.
I like it a lot -- I bought it for photos and movies, and it works great for both! My mom is impressed with how nice photos look and it is an easy to way to share them with her.
It boots up much faster than my netbook, so I use it for "armchair surfing" and I use both the ABC and Netflix apps often to watch tv shows. If USA had an episode app, I could probably get rid of a satellite box or two! (I can't shed satellite completely, but I could save a few bucks on the additional boxes.)
I knitted a shawl for my mom and called up the pattern on the iPad and used that instead of printing it out. It was a simple pattern -- not one I needed to print out -- and it was a convenient reference.
I haven't done any reading on it although I do have several book and document apps. One of these days I'm going to load up the PDF that I have for my camera manual and see how it looks -- I think it would be a great way to reference it! However, I have an e-ink reader and I do most of my reading on that, rather than the iPad.
My husband has a subscription to an automobile repair manual site; when he replaced the radio in his truck, he took the iPad out into the garage with him while he was troublshooting the wiring. It would have been a pain for him to have tried that with any kind of standard computer.
I have a small bit of enthusiasm for my iPad. I do not, however, have any great love for iTunes and I would get a lot more out of it if it wasn't tied to iTunes. I can get a lot out of it -- the app store is integrated into the tablet -- but to load up extra content such as music or books, I have to go through iTunes and for some reason it is a difficult process for me. (DH says if I connected more often it would be less painful, but I don't connect often because it is painful.
Good luck with your decision! I highly recommend it, if you think you can use it. I wouldn't trade in mine for the new one -- not enough improvements for my uses -- but I would say to go for the new one if you don't already have one.