One thing I find people often don't realize is that this model of iPad DOES NOT HAVE A GPS in it.
I have an ipad 2 and it works great. The one on sale here is similar to mine (its processor is faster and its screen has higher resolution).
However, I would not buy the one for sale here, because it does not include an internal GPS.
That might not be a deal-breaker for everyone, but many of my favorite uses for my iPad make use of its internal GPS (driving directions apps like Waze, cheap-gas-station-finder apps, aviation apps, star-finder apps, Yelp, Google Maps, Apple maps, etc.).
If you want an iPad that knows where it is at all times, and can show your position on maps and stuff, you need one that contains a GPS, so don't buy this one.
More details, for those who want them
All iPads are either "3G" or "WiFi only." The difference is that the "3G" models have an additional chip in them that allows them to connect to cellular data (verizon, AT&T, etc.) so that they are always on line even when you are on the go (like a smartphone).
Only iPads that have "3G" (cellular data) capability have an internal GPS. This is because the GPS and the cellular data receiver are located on the same chip - the chip that is left out of the "WiFi only" versions like this one.
The "3G" models do not require that you subscribe to a cellular data service. Mine, for instance, is a Verizon 3G ipad, but I don't subscribe to Verizon cellular data (except when I go away on vacation - then I sign up for a month of data for $20. Easy to turn on just for one month.)
So although this model is a good deal, it does not contain a GPS and therefore will not be able to do the cool location-referencing stuff that all smartphones, and GPS-enabled iPads, can do.