iPad : what is lacking…
The iPad is not perfect, even if it’s superb. There are many weaknesses and limitations on this product, that the presentation tried to hide…
The iPad is not HD
Steve Jobs presented the iPad playing “HD Movie”. In fact the movie might be in HD, 720p, not full HD, but due to it’s limitations, the iPad could not play it visually on 720p (1280×720) nor on the 9.7inch screen nor using VGA output, both limited to 1024×768. We could argue about better than SD, but it’s far from the first HD level, not talking about Full HD.
The iPad has no camera & no iChat
This is probably my main concern, to not have a 20$ camera included, facing the user, and iChat application (even if limited in resolution), to be bale to organize video chat and meeting. I dreamed about a means to do video conferencing, presenting powerpoint or keynote documents, exchange or share files. Maybe for 2G in 2011?
The iPad doesn’t support multitasking
When I use my computer for browsing, I use Adium (MSN and other IM client), browsers, emails, etc. I need them all at once, and be able to see them all, on the screen at the same time (on my MacBook Pro 17″) or using Exposé. Even if you consider the iPad for browsing and social medias on the web, you’ll need multitasking and the ability to see different windows or applications at once. This is lacking on iPad.
Lack of filesystem
It should be natural with Pages, Keynote or others to come (maybe Microsoft Office for iPad!) to create documents, store them as files, and be able to exchange them, using wifi, 3G, USB2 or even SD cards. Or use another software (says iPad Photoshop) to open files created in another application (ie: screen capture). Won’t be possible and iPad will be as closed as the iPod and iPhone.
No cloud storage
With Wifi and 3G connection, it should be natural to store your files on the Cloud, on your iDrive with Mobile Me account. It seems it’s not possible too 
Seems really weird from Apple to not offer Cloud Storage for iPad, knowing their massive and continuous investment on Mobile Me and gigantic dataserver farm!
No access to your computer files
You might synchronize files, but limited to a few amount of files depending on the storage capacity you choose, from 16GB to 64GB. If you are on the wild, connected wirelessly, and willing to retrieve this important document you have on your desktop computer, and doesn’t synchronize voluntarily, you are lost!
No desktop option, or perhaps the new rumored iMac 22″?
Imagine the same capability, with a desktop CPU, 22″ screen, with multitouch ability on the whole screen surface, and the ease of use of the tablet (without the ability to sense motion for games naturally). It could be of incredible value for people willing not to have a computer, handling OS, antivirus (windows), malware, and other things, but just doing things 
You need a Mac for your iPad
The iPad need a Mac. You could use a Windows PC, but you won’t have the full experience of the iPad and application file interchange (ie: keynote or Pages) that you will experience with a Mac. Worse you need a real computer to be able to put your music, videos, books, or any other documents inside.
Without this limitation, this is the computing device I will offer to my mom (she’s on her seventies), to replace her old PowerBook G4 12″, lighter, simpler to use, no more management. Kinda dream!
Conclusion
As first generation iPhone, the iPad is not perfect, far from perfect, kinda sketch of a dream, and as for iPod or iPhone, it will be refined generation after generation to stay ahead of the pack. In fact, as the first iPhone, there’s no competition for the iPad, and it won’t be until 2011 probably. You could build same hardware, but not offers the same music, video and application library!
For me the iPad is the beginning of a revolution of the computer culture, from computer to computation/entertainment devices, that everyone could use, as simply as an iPod or iPhone! This is real shift!