The HP Touchpad is a nice bit of kit, but I wouldn't buy a device that was announced as discontinued almost before it had hit the shops.
If you just want something cheap for web browsing and putting your own films on, then it's fine, but if you want something that'll get continued support, have supported apps or services in the future, then I'd think twice.
As a for instance HP/Palm have a Palm ID which you can use to keep your contacts and calendar in the cloud as a backup. What happens when they decide to discontinue that too? It's worth considering that.