I quite love my iPad 2, but it's good for what I specifically use it for.
If I had to do extensive amounts of writing on something portable, I'd find my old Asus eee netbook (I was an early adopter - I got this in '08, when it was the first netbook on the market in my area) far more convenient.
My iPad is not a game machine or a computer or a portable mp3 player; it works perfectly for the niche it fills, and that niche is when I need to either take brief/short notes in school, update my planner, keep short notes, write and read email, surf the web, and watch movies... and I can do this curled up in a recliner chair, with a blanket and a mug of cocoa. I can also do (much) of this on transit to and from school.
I do not bother with the data plan because I spend most of my time within reach of a free wifi connection and it's not worth the money.