After years of anticipation Apple finally unveiled it’s long-awaited tablet PC called the iPad.

Like most major Apple announcements (usually accompanied by the sound of angels playing harps) this new device is expected by Mac fanboys to heal the sick, bring about world peace and make them actually look cool. This despite the fact that many are now likening the iPad’s name to feminine hygiene products.

The iPad does pack a lot of firepower wrapped in a thin, sexy, package. Kind of like Angelina Jolie in Tomb Raider. It’s a web-surfing, e-book reading, game-playing, app-running sliver of aluminum and glass that will play a siren song to many.

I know that this device is going to tempt many Debtbeat readers, who probably fit the key demographic of early adopters. Over the past ten years our credit card companies have gotten fat off the spoils of needless charges made at Best Buy and yes, the Apple Store. Citibank probably bough three private jets on flat-screen TV proceeds alone.

But I am hereby making an impassioned plea to everyone with a hankering for the next hot thing out of Cupertino.

YOU. DO. NOT. NEED. THIS.

The iPad is designed to fill a new niche; bigger than a cellphone (i.e. iPhone) and more handy than a laptop. Unfortunately you’ll still need both of those, which you probably already have.  And it does nothing that these devices don’t already do.

Before the the iPad was launched many analysts predicted a cost of $1,000 or more, comparable to Apple’s cheapest laptops. However, Steve Jobs surprised everyone with a starting price of just five hundred bills.  This cost goes up to $829 for the model with 64GB of storage.

Check out the pricing structure:

The iPad connects to the web via WiFi or AT&T’s 3G network, but as you see from the grid above you’ll have to pay more for the version with 3G.

And in addition to the cost of the device itself you’ll also have to spring for monthly fees to use AT&T’s cellular network.

This will set you back either $15 or $30 a month. To use the same AT&T network that can barely handle the iPhone’s data traffic. Usually devices with a monthly fee are subsidized, this turns that model on it’s head. (And kicks you in the ass.)

Worse yet, for folks already struggling with outstanding credit card debt who choose to charge this (and my guess is there will be thousands of them) you’ll also have to factor in interest charges on top of the purchase price, taxes and AT&T fees.

And of course you can’t forget the accessories like the keyboard and cover.  And the apps.  And the screen protector. And every other add-on that can now be developed now that the world knows what the iPad is.

Hopefully the fact that these devices aren’t available yet will give folks time to reassess whether or not they have to have one. The Wi-Fi models are supposed to start shipping in late March and the versions with 3G integration are to begin shipping in April.

The bottom line is that the iPad is pretty, but not frugal for anyone with bills to pay.  Even if you use it to access Mint.com.

What was until now the most beautifullest slab device, Amazon’s Kindle Wireless Reading Device, is now the ugly girl at the dance.  But she is cheap at only $259 and with free 3G access.