If there ever was a case to wait for the next generation ...
... the iPad is it, particularly for one who already has an iPhone (and yes, a shiny new iPhone 4, too).
The screen in the iPhone 4 is such a revelation that I would be quite reluctant to sit and stare at an iPad all day with the decreased resolution. The extra RAM in the iPhone 4 also make operation a pleasure rather than the increasingly sluggish experience it was on my 3G.
I'll consider the iPad only with a that Retina Display and an extra 256MB (at least) of RAM. THEN the device will be truly magical.
Though I still would probably pick one up in the US - have to love that 20pc VAT soon!