Writing this from my iPad.
1. Yes. 3G version has GPS, and I use it a LOT. Mapping, traffic congestion info. Not so good for very precise work a la geocaching, but fine for driving.
Note that most mapping apps rely on internet connectivity, so you may get poor or no mapping service outside a 3G zone. Most places support EDGE networking in lieu of 3G, but that is very slow.
Many apps make interesting use of GPS, such as UrbanSpoon (finds a random restaurant near you) or assorted astronomy apps (use the iPad as a virtual window showing the sky from your location, literally hold it up where you want to know the stars).
2. The best thing about the iPad is connectivity anywhere anytime. I mean really: quick email check at stoplights, look up obscure trivia over lunch, write a paragraph for a book while waiting for the wife to find her shoes, look up recipes, carry entire CD collection with vast room to spare, watch on-demand movies in bed, etc. No laptop can match the instant-on, no unfolding/setup, easy use while walking, no-contract always-connected Internet, uber-portable design.
FWIW: I burn thru about 3GB data per month with this thing.
I’m thinking about having it surgically implanted.
I'm afraid the Google boys may be way ahead of you.
The one real negative about the iPad and iPhone is that they don’t support Flash, as any iPad and iPhone user knows. I do hope that Apple addresses that problem ASAP. I’ve read that it’s not an easy fix but, hey, it’s Apple. They can do just about anything
I got in just under the wire with the unlimited plan...I wrote a letter to the head of AT&T telling him how much I disagreed with his decision (on top of AT&T removing my ability to remote desktop over 3G without having to purchase a “Corporate Account”.
I got a call back from his office a few weeks later to discuss the email, but I was on a conference call and couldn’t do much more than listen in one ear...