I still recall the back breaking load of my college text books fondly. Not to mention the insane prices and the fact that a text book typically isn't used more than a few semesters. Many students and schools already make use of laptops/netbooks to replace and/or enhance text book based curriculum, but there are penalties for using them. Unless you invest in high end models you are looking at 5 pounds for a laptop and accessories. Also despite manufacture claims, expecting more than an hour or two from a laptop battery is foolish. The power cord shuffle that a dedicated laptop student has to perform for an entire days schedule is nightmarish to think about.
How could the iPad improve this situation? On price, a low end laptop or netbook is the same as a 16GB iPad, so a wash there. If the battery lives up to Apple's claims, 10 hours will meet a typical student's schedule. A version of iWork will be available for the iPad which will students access to basic office style applications. While the iPad doesn't do handwriting recognition out of the box, a student could use its built in mic to record lectures. The iPad definitely has potential to assists students, but only time will tell if it can replace a laptop.
Another place an iPad could come in handy for a student is in research. A company called Questia has a subscription based service aimed at students that allows for easy researching of journals and scientific publications. While this service is available for the iPhone and any web accessible computer, the ease of access the iPad promises could only improve a service such as this.
Given time to mature, I think the iPad and its apps could benefit schools and students to a high degree.
To learn more about the upcoming Apple iPad or to read news and reviews about the iPad visit, http://www.ipadcorral.com.