Just got my nexus 7. I have an iPad 1 and iPad 3. Love the convenience.
I wanted a smaller device for reading, but the price of the Nexus 7 says, I don't need the iPad and a Kindle. No iPad mini for me.
I also have owned a number of Android phones. Have not been happy with being stuck on a device with no easy access to latest OS. I hope that doesn't happen, or at least that I will be able to upgrade for at least 18mos to 2 years. I do want to avoid the iPhone, and the Nexus 7 could be the way to do it.