Will the iPad cannibalize the Notebook market?

Before buying an iPad and using it I was saying an absolute NO to this question. I was even mentioning a survey from NPD where it's shown that only 13% of the iPad owners bought the devise instead of a Notebook or Netbook.
But after using the iPad, I realized that I really need it. I am not using anymore my traditional NB like before. When I want to do some office work, I use my desktop at home which is more comfortable. For anything else, I use my iPad.
A lot of people around me are still very skeptical about this question, but none of them is an iPad user, and all iPad owners I know are happy with it.
According to the main retailers in the UAE, Notebook demand remains strong and iPad is still a secondary device for most of the people, but we need to watch closely what will happen once the iPad prices will go down in the next few months.

Please share with us your personal experience.