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If you have an iPhone, and you like it alot, that is an automatic sign that you should NOT get the iPad.
Let`s be honest here, $500 is ALOT of money. You can buy knock-offs for around $200, but they aren`t as good as the real thing. If you want a good tablet, the iPad is a great choice!
The iPad is a bigger version of the iPod touch, except it has no camera. If you have an iPhone, you really don`t need an iPad, but if you travel, and the iPhone has a small screen, the iPad might be good for you.
It really depends on the person, but personally, I think it`s the same as an ipod touch or iphone, just bigger. If you REALLY want an tablet, get a cheaper one like the Blackberry Playbook which is 200 dollars!
Tell me what you think! :)