I like this tablet, and I keep it on my night stand for evening web surfing before I go to bed. Works great for casual use like that. I find that using the stylus is not necessary and do everything with the tips of my fingernails/thumbnails. No finger touches work, however, but I quickly got used to the method I now use.
But, when I go out, I still take my netbook. This device lets me keep the netbook downstairs where I use it most and still browse when I'm in bed without lugging anything around.
There's a good assortment of apps on it, plus a software installer (package manager, for those familiar with Linux) that comes with pre-installed. Limited apps of questionable quality, for the most part. Hint: Download Opera, and use the App Store built into that. Most of the apps are free, there's a much better selection, and heck, Opera is the browser to use anyway.
No Flash, as another user mentioned, but you can watch online videos with the included Skyfire browser, which can pull embedded video and play it in a new window. Works pretty slick, if a bit annoying to switch back and forth between it and other browsers.
There's also a Youtube app, which is handy. Beware that video really sucks the battery, which is OK for browsing (can last several hours), but runs down quickly with video.
Screen rotates. Keyboard works OK, but the enter key doesn't always work correctly, resulting in extra letters added to what you type.
Yes, it requires a microSD card if you want to install anything. Kinda chintzy, and really means that to make the tablet usable, you'll have to make an extra investment, but considering you can find this thing for around $150, it isn't a dealbreaker.
I've never used an Ipad. This is probably not a competitor in any sense of the word. Don't get me wrong, Android is one slick OS, and I'd like to see it optimized for a bigger screen, with a real touch screen. But, if you're wanting an Ipad, get that instead.
I tend to think of the Sylvania tablet as the successor to the handy Nokia tablets of a few years ago, but in a bigger, more usable size, at half the price. And, in that regard, the internet tablet for casual use is becoming ubiquitous, and that's a good thing.