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Video: Apple's iPad Launch Event

Apple iPad

 (Apple)

After years of watching the rumors and waiting, Apple has unveiled its tablet-like iPad computer at a Wednesday event in California. 

Apple's newest gizmo -- CEO Steve Jobs gushed, calling it "our most advanced technology in a magical and revolutionary device at an unbelievable price" -- is a multipurpose multimedia device. 

It lets users to watch films, play computer games and surf the Web while on the move. Many analysts also think it could also reshape the way that we read books, newspapers and watch TV.

Starting at $499 and available for purchase in about 60 days, the iPad may be Apple's next big hit. But is it really a groundbreaking product worth that money, or is it overhyped, merely an overgrown iPod Touch? FoxNews.com recorded the event, so that you can watch and make up your own mind.