Apple unveils IPad

Steve Jobs unveiled Apple’s new table, the iPad.
The iPad is about the size of a hardcover book, half an inch thick and with a 9.7-inch multi-touch screen, similar to the iPod Touch and iPhone.
The device can surf the web using its Safari browser, send emails via an on-screen QWERTY keypad, play music, videos and games, and display e-books.
Price of the iPad will be as followed:


How much is it expected to cost?
I’ve added an image of the pricing chart.
Besides it being an over sized iPod what so special, can I compose word documents, speardsheets, or powerpoints. Does it have any programs like the macs do perhaps iMovie?
^ Correction over sized iPod touch