iPad as an eReader

on top of everything thats been said,if you want to take an ipad to the beach then just up the cash for a protection device for it to allow you to do...most are fully waterproof and work in such a way as to allow you to use the ipad fully even when in the water! let alone on the beach!
ipad or kindle is/was a no brainer for me..the extra cash involved pails into insignificance with the extra funtcionality i have with the iPad! on top of it i have Kindle app anyway!! so i have the ipad, the kindle software and the best of both worlds! i happily paid the extra for that!
i would be more annoyed if i paid the £110 for a Kindle only to find out i wanted to read my fave magazine in colour...or watch a film on youtube, or play a quick game of something to pass the time and realised the Kindle simply wasnt up to the task!
if your 100% sure you ONLY EVER want an ebook reader then spend on a Kindle; if you have any doubt at all, whatsoever, that you might, just might want to do more; then save for an Ipad or its now pretty much confirmed successor!

I have both a Kindle and an iPad. For general use, I prefer the Kindle as a reader, but the iPad has some great benefits. Thinking as JUST an ereader...
Pro Kindle
Lighter - read an iPad while holding it in one hand while riding the subway - if you say you can you are lying.
Easier on the eyes - it really is easier on the eyes to read the Kindle
Battery lasts forever - I read about a book a week on my kindle, and charge it twice a month, maybe, at most. I took my Kindle on a weeklong trip late in 2010 and did not bring my charger, and made it home with plenty of battery to spare.
Can read it outside in the sun - very little glare though it does get washed out in bright direct sun

Pro iPad
Not Just Kindle, but can run Kindle, iBook, nook app, etc. It can read WAY more options and type of books than the Kindle.
You "can" read it in the dark, just not for very long before you get eyestrain.

All that said, I read 98% of my ebook reading on my Kindle

One caveat. YOU find that the Kindle is easier on the eyes. For me, e-ink is very hard on my eyes unless I have a very bright light source on it. I actually ended up selling my Sony Reader because it was just collecting dust.

I don't find the iPad hard on the eyes in the dark especially in night mode.

Tamara, granted. But I would submit that "most" users think e-ink is easier on the eyes than the backlit screen - yes, probably not "all". You probably can't tell in 10 or 20 minutes of reading, but I think most people can tell a difference over time, and I suspect that time varies widely by person. Just as a quick survey, I asked my 4 other family members, and we are 5 for 5 e-ink is easier on the eyes.

I am not knocking the iPad at all - if I had to lose either my Kindle or my iPad, I would probably give up the Kindle, since I have the Kindle app on my iPad.

My problem with e-ink is the contrast ratio is too low and I'm an avid reader. My DH also didn't like a 60 watt bulb on in the bedroom at night when he was trying to sleep. Book reader lights simply didn't cut it for my eyes.

I'm with Tamara on this. The higher contrast on the iPad is much easier for me to read than my Kindle. I wonder how much of this preference is age related. As I've gotten older, I've found that I need much more light for any sort of close work even though I don't yet wear reading glasses.