Kind of a weird name - islate might have been a little more apple like, and a little less prone to ridicule. Didn't really see the use for it until my lovely wife bought me one as a gift. Now I'm reading my magazine subscriptions - Macleans, The Economist, and Campaigns and Elections - on it. I'm watching a lot of tv shows and movies through netflix and now through the Global TV app. I'm reading my social media feeds through flipboard.
Oh yes, and I am very easily taking digital notes using evernote - an app which continues to amaze me in its usefulness.