Is the iPad the right tool for business?

Ok, i'm really struggling with this.  I had the iPad 1 and now have an iPad 2.  I also carry around a MacBook Air and an iPhone.  Clearly i'm an Apple Fanboy, but I have to vent on this topic.

There are a ton of iPads out there right now, and a lot of them are used in business.  On average, 50% of the folks in my meetings carry an iPad now (or some other post 2009 tablet) and clearly it is here to stay.  But is this just a temporary fad or a permanent fixture in our daily lives?

I speak to tons of customers every month, and it's clear that they are already embracing this platform, and are even going out of their way to enable this technology by virtualizing their apps and desktops; in some cases investing hundreds of thousands of dollars to make an app run on an iPad.  But is it really worth this exercise, and will it pay off in increased productivity?  I tend to think not, and here's why:

1. If it's not a native app, it is somewhat worthless (to me).  I dig apps; anything that natively runs on iOS, written well and responds quickly with my data.  However, trying to use web apps, and through Client Virtualization technologies is just plain awful and frustrating, even to someone who is a power user.
2. Security is a nightmare to manage.  Say you download a note-taking app, probably the most common thing a business user would use an iPad for; all your business data is now stored on the iPad with a lame 4 digit password.  Is the data encrypted and secure?  Well that depends on the app (probably not).  Can you email the notes out and cause data leakage?  Sure.  Worse yet, does the note-taking app have cloud-based storage so your 'stuff' is now stored in a public data center with questionable security practices?  Oh yeah, that's happening everywhere already.  All it takes is an employee to lose an iPad with critical data, or a cloud provider geting hacked, for businesses to take this risk seriously.
3. Along the lines of the whole note-taking thing, the iPad is not fast enough to type on, and most of the note-taking apps don't let you draw (well).  I'll take Microsoft OneNote any day, but i've settled with EverNote even though you can't sketch in it yet (right now I use Pen Ultimate and paste sketches in EverNote).  And it's not like I don't like the online keyboard, it is just that it's not comfortable like the iPhone.  And i've spent months trying to get used to it. No Dice.
4. This thing isn't designed for 'rugged' everyday use.  One drop and the glass is either broken or pretty marred up.  Oh yeah, you can spend another 50-100 bucks on a rugged case which makes the device thick, heavy and downright ugly.  No thanks (I opted for a Miniot custom wood cover).
5. No Flash.  This IS a big deal in firms like mine that use ERP and Performance Management Apps that are all based on Flash.
6. People want to access their business desktops with their iPad. I really, really struggle with this one.  Until you actually do this a few times, you don't realize how much of a time waster this is.  I recently went on a trip to the west coast sans notebook, and what a mistake that was!  While the convenience of having a super light, long battery life device was fantastic, I found myself doing 90% of my email responses on my iPhone.  Secondly, accessing my desktop just wasn't the same; I kept accidentally closing windows, resizing/pinching windows frequently and with public WiFi being so horribly unpredictable, I gave up and waited until I got home to my mac.  At one point I got caught in an endless loop trying to reset an internal enterprise app password for over an hour. My point being, I started wasting way too much time trying to 'make it work' on the iPad and in fact started losing productivity.  Part of the problem though is that Windows, and its apps, aren't designed for touch screen devices or low resolution screens like the iPad, so you have to keep this in perspective.

By now you may think I hate the iPad, but that's quite the opposite.  I think it is fantastic for watching movies, reading books, playing games, surfing while on the couch etc - all consumer type stuff.  At work, i'm way happier with my MacBook Air.  However, as I say that, I do see a blend of the MacBook Air and the iPad that could be a killer combination.

All we (probably just me) can do is wait and hope.  Comment back and give me your perspective on this.