What is the iPad?

The iPad is basically an iPhone mixed with a lap top. It features a touch screen with internet capabilities, gaming capabilities and other media functions in a portable tablet size.

How Long Is The Battery Life?
According to Apple, 10 hours of active use on a single charge, or 30 days in standby mode.

What Apps Will Run On It?
Every app that is currently on the App Store will work on the iPad. Those apps designed for use on the iPhone will only take up a small portion of the screen, or they can be blown up to full size with some visual degradation.

There will also be iPad-exclusive apps which are designed to take advantage of the larger screen and will look just as crisp as they would on a normal computer. Here's a list of iPad-exclusive apps that will come pre-loaded on the device:
Safari
Mail
Photos
Video
YouTube
iPod
iTunes
App Store
iBooks
Maps
Notes
Calendar
Contacts
Home Screen
Spotlight Search

The iPad looks to be a hit and should have quite a following as with any other Apple product.