Steve Jobs presented the overrated new iPad that looks like a huge silly cheap version of Apple’s iPhone in San Francisco on Wednesday (January 27). But the iPad is everything but cheap – this stylish useless new gadget will cost you from $499 (16GB) to $829 (3G, 64GB)!

Seriously? If you already have an iPhone and the most powerful (according to your needs) laptop for a low price, why the heck would you need a pricey iPad? What a waste of space! Another big huge fail for Apple is the name iPad! Must watch the hilarious iPad MadTV spoof (video below)!

iPad MadTV Spoof Video Below