When Apple originally introduced their 8GB model iPhone, it was priced at $599. Sixty days later, Apple reduced the price by $200 to $399. I recall when this happened there was an outcry by the first early adopters who had paid full price. Apple gave these people a $100 credit in their Apple store to be applied to future purchases.
So now that Apple had let the genie out of the bottle, and firmed up a April release date with the cheapie unit priced at $499, now is a great time to wait. Why? Apple like most companies will lower the price as more people buy the iPads. They have done this with their iPhones and iPods and there will be no difference with their iPads. Wait for a few years until the price hits the $299 mark or lower and millions of these will be flying off the shelf.
Also in a few years, Apple will vastly improve the device. Heck, we might even get a USB or Media port included as well. LOL