Thing is Bill, these things today are a bit pricey, but gen 2 and gen 3 devices (gen 2 already on the market) are *very* affordable compared to the IPad.
Velocity Micro R101 Android Cruz Reader - 7 Touch Screen Display, 256MB Storage + 4GB Built-in Micro SD, Wi-Fi, MP3 Support, 10 Hours Battery Life, Black at TigerDirect.com
$119 for this one. 7" vs 9" screen and some other differences but if all you want is a portable thin music/video player this one would meet the need, plus all the Android apps are coming along very nicely.
I think gen2 IPADs will be amazing if they have the right features and the new screen, cameras (front/rear), sd slot, thinner/lighter, etc. Lots of the new Android based tablets are going to offer all of that and more in the coming 6months, should be an interesting time for sure.