There are already Kindle applications for PC and iPhone, and announced ones for Mac and Blackberry. The advantage of the Kindle itself is that it has a passively lit screen. This makes it easier on the eyes and consume far less power. If you're going to get rid of that main feature, there's no particular advantage to it.

It's clearly useless as a phone; you can't keep it in your pocket, and there's no way to hold it to your head anyway. So you still need a phone, and if that's going to be an iPhone, the only thing you'd gain with the iPad is a bigger screen. Any "road warrior" worth his salt is already going to have a smart phone of some nature that he can email with and whatnot, so the iPad isn't really helping out there.

I dunno. I guess there is some benefit to a lighter device, but I'd say saving $500-$850, drinking from a water fountain, and being able to use real applications is the right choice.