Yes, GPCs (general purpose computers) aren't going away. Yes geeks will fight it, but the iPad (and hopefully competitor's devices like it) and appliance computing will be the future for a great, great number of people.
I think the weirdest transition will be from GPC to TPC: "Truly Personal Computing" where each person has their own touch device and borrowing someone's will soon be like asking to borrow someone's toothbrush. (From what I understand, iPad owning 25-50-somethings have to fight their kids/spouse/etc. to keep them from stealing it, mornings, evenings and weekends.)