The iPad is still far better. I'm sure there were many cheap versions of touch screen MP3 players before the ipod came out, having similar or "better" functions. Things like an SD slot, Stylus, etc tend to make them more bulky and complicated. The attraction to the iPod and iPad are the simplicity in both functionality and look, not to mention the app store. I could find many iPod touch knockoffs that claim to be better then the actual thing, but none of them come close in looks, functionality, ease of access to multimedia, or OS.
I have the ipad mounted in my Kitchen, we use it for all sort of stuff and keep recipes and things like that in there, eventhough they have a App for EVERYTHING now.
I must say that it is the shit and @ first I just bought it just to have it a figured I would never use it. But it is VERY useful.. you'd be surprised