@Iggy
Try it out, it's a neat device for what it is. Not every computer has to do everything. My fridge doesn't have to host websites, my TV doesn't have to render 3D objects in real time. I have an 8 core Mac Pro that handles the hard computing stuff. I have give talks with an iPad and small projector, watched TV from my slingbox, etc with the iPad. I use it for light internet use. It's simply tool that fills a niche.
On the flip side not every device need have a full bash shell, I don't need it for my TV, even though it has a web browser. Sometimes a device is just a device. The iPad is neat for a handheld applications platform, but I would want to code on it.
So, as a user you are basically saying it's a fairly basic device for undemanding end-user applications. So in what sense, then, can it possibly be described as "the holy grail" of computing" ?
For a start, none of the tasks you have suggested are really what anybody would seriously call "computing". After all, consuming media and web surfing and so on is the sort of thing you can do on your average TV set in 2011.
To a serious user, the "holy grail" of computing is far more likely to be something that lets them do real work (whether that's creating content, coding or whatever else) with maximum efficiency, minimum hassle and as inexpensively as possible. Precisely the sort of activities you've dismissed it as being any use for.
Do you see why this kind of stupid "best thing evar!" hype gets on my tits now?