The wait is over. The Apple iPad is finally here.

Steve Jobs introduces the Apple iPad

The Apple iPad is what we expected it to be — a large capacitive multitouch 9.7-inch 1024×768 resolution screened iPhone. It uses the same iPhone OS and applications, features speedy internet browsing through WiFi and 3G connection (provided by AT&T), a large virtual QWERTY onscreen keyboard, photo browser, video and music player and eBook reader. However, that means that there’s no innovative screen technology (just an IPS display) which will exclude the iPad from being a top eReader. That also means there’s not Flash support through it’s embedded Safari browser. The larger size places a significant frame around the screen that looks very un-Apple-like. There’s also no camera in the device which is disappointing.

The iPad is half and inch thick and weight 1.5 pounds (that’s pretty heavy, actually). It’s powered by an Apple 1GHz A4 chipset and 16GB, 32GB and 64GB options for internal storage. The battery provides an excellent 10 hours of full-use battery life. It also features WiFi 802.11n and Bluetooth 2.1 (whew!) as well as 3G through AT&T. While that may come as a surprise to some, the AT&T 3G offers a no-contract month-to-month rate that starts at $14.99 for 250GB and $29.99 for unlimited per month. The iPad will also come unlocked.

All of the current iPhone apps can be used on the iPad — either at their native resolution (which looks like a peephole) or by doubling the resolution to fill the screen. Apple calls this “pixel doubling” which is basically what Photoshop does when you view an image at 200%. Jobs also introduced iBooks — an iTunes for eBooks — that will sell ePub format that you’re able to read on the iPad. For many eBook readers, however, having the iPad use a backlit LCD screen will be a deal breaker. An interesting thing to add is, with the ability to run iPhone apps, what’s to stop people from using the Kindle or Barnes & Noble app to read on the iPad? This would take revenue away from iBooks and give it to Amazon or B&N while still letting you use Apple’s device. Either Apple forgot about this or they decided (uncharacteristically so) to not block it.

The inclusion of iWork on the iPad is something that is much needed. While we don’t think the iPad offers nearly enough versatility to be a productive computer device for a business professional, at least the iWork apps gives the ability to perform basic skills. Apple reworked the entire OS to make it touch compatible. You can access elements by touching them and getting a drop-down menu to make changes. Each iWork app is only $9.99.

The non-3G 16GB version of the iPad will run $499, 32GB for $599 and 64GB for $699 while the 3G enabled iPads will cost you an additional $130 for each version. That puts the iPad back in the pricing structure we had predicted ($699-$899 was our guess). Just remember, that’s $829 for the 64GB 3G enabled iPad and that’s not counting the additional carrier fee for access. Apple is also (smartly) making three accessories: a standard dock to display the iPad as a photo frame, a keyboard dock (one of our wished for items) and a case. The WiFi models will be shipping in 60 days and the 3G enabled iPads will be shipping in 90 days.

Overall, it seems to be a glorified MID device. While that’s exactly what some people wanted, it’s not enough to get us overly excited. We can’t believe they didn’t fix the multitasking issue. That seems like a no-brainer. It certainly is smooth and has the processing power to play HD videos and surf quickly, but everyone expected Apple to turn out a quality device.

Still, if you don’t care about 3G then you have a very affordable product on your hands. The iPad will certainly be a better product than the Archos 9 and Camangi WebStation (prices at $549 and $399 respectively) and, at a starting price of $499, sits right in the middle of affordability. The 3G will cost you a lot of dough however, especially if you go with top model. That’s spending $1,200 in the first year on a tablet. The good news is Apple really laid out a smorgasbord of iPad varieties so the consumer could choose what they wanted and how much they wanted to pay for it.