Is the iPad a Creative Toy?

My wife has offered to get me a first generation iPad for Christmas (if I was going to get one, I’d wait for the second generation model, due out in Q1 of next year) but this got me to thinking about the whole “tablet computing” functionality.  As someone who enjoys producing CONTENT rather than consuming it, are devices like the iPad really useful, or would I use it as a beer coaster after a few weeks?