Kimmer, do NOT buy a first generation iPad, no matter what the price. They cannot load the latest iOS and they therefore cannot use quite a bit of software that is out there that requires the new iOS. A friend who has the first gen is quite annoyed about this, and finds it very frustrating. It will only get worse as apps are updated.
I've got a 4th generation that I got for Christmas. I love it. I use it to do email (I now have everything on IMAP and therefore synced with desktop, laptop and iPhone), some web browsing, games (Whirlyword is my latest addiction...) and reading books. I'm currently reading our book group's latest choice, The Sea Captain's Wife. I plan to load it up with a few more books when we head to Eleuthera at the end of this week for March break. I can also get at least some of my magazines on it, so again - for portability, it's a win. I don't think I'll take it to the beach though...for that, we'll revert to the analog edition of the reading material!!
I've even updated Wordpress web sites on it, though probably won't do that a lot, as typing without a real keyboard is much slower for me. Of course, if you buy a keyboard for it, then it's much easier and you can do lots of things you might otherwise turn to a laptop for. It takes quite decent pictures too - I've used it when I wanted to catch something that I would have missed if I'd gone to find my camera. However, I don't think I'd consider it a true camera substitute as it's not as easy to handle as a camera physically. If you have people to Skype with, it would be great.
Mine is wifi only since I have the iPhone - if I really need the bigger screen, I can always use the iPhone as a hotspot and get online that way.
There are lots and lots of great apps out there - I feel like I've only scratched the surface. I'm intending to take it to a board meeting on Wednesday for which I am the designated minute-taker, and am going to try recording the meeting using the iPad, just in case I miss anything in my note-taking.
Anyway - it's a fun thing. But get one of the newer ones. We got my Dad a 3rd generation one from the refurb store for Christmas/his birthday. It's his first ever computing device at the age of 92. I'd love to report that it's been a roaring success, but unfortunately, he's still "too busy" to spend much time with it!! (He's been playing a lot of snooker at his retirement home lately - which, considering it gets him out of his suite and socializing, is probably better!) It has both wifi and cellular; we just added it to my plan and share the data, which is working just fine, since he isn't using any most of the time!

While it's supposed to be slower than mine, we haven't noticed any particular slowness, so you might want to consider one of them from the refurb store. Don't know when the next generation will appear - the buyers guide at Macrumors.com lists the iPad as "neutral - mid-product cycle."