How Cost Effective is the iPad Versus the Textbook?

"Looks like Apple is on the verge of capturing yet another lucrative market, and changing education as we know it... Or are they?"

I've always thought that using the iPad in place of a textbook would be awesome if I were back in school, and I still do, however the cost comparison they used does make me pause. Granted, they are making a few assumptions such as cost of the "book" on the iPad versus what a textbook will cost, as well as the true cost the school will pay for the iPad. I think the biggest mistake is that the market created will be high school. I'm sure some will adopt this, but I think the more appropriate place is for the college student. That is where the true value of using the iPad will be realized. All the textbooks will be on it, you can write your papers on it, and use it for entertainment in your down time. It is the perfect vehicle for the college student and I hope that is where they focus, at least initially. What are your thoughts?