Yes it is flashy and gimmicky, just like the iPhone/iTouch before it.
It isn't new. It is a improved and enlarged iTouch.
Honestly, I like the idea of the iPad, but the execution of the idea is another story.
I think you're missing the point.. the interface developed for the IPHONE and IPOD TOUCH is what was new, and incorporating it into more powerful machines is the next logical step. Everyone I know who owns an Apple product loves it, and everyone who doesn't have one/hates it has never used one. Everyone who keeps pointing out what it doesn't have, like a USB port doesnt seem to understand what the device is intended for. Everyone seems to think it's here to replace laptops, but it's not.