To be frank thats not even that much for this tablet...
It features:
- Dual antenna wifi for better strength and speed of internet
- 1920x1200 HD Display with HDMI out for Tv
- 1.5Ghz Dual core processor
- Dolby Audio speakers
- 16Gb of storage
- Xray feature
- Amazon prime
- Front facing HD camera for skype
- Over 100K audio books
Here is a good Discussion on Kindle Fire HD, should help you out on deciding:
http://www.amazon.com/gp/customer-forum/kindle/?ie=UTF8&camp=1789&cdForum=Fx1D7SY3BVSESG&cdThread=TxEU2FSWAHHSDQ&creative=390957&linkCode=ur2&tag=adkisd-20
Here you would be able to find the Kindle Fire HD:
http://www.amazon.com/gp/product/B008GFRE5A/ref=as_li_ss_tl?ie=UTF8&camp=1789&creative=390957&creativeASIN=B008GFRE5A&linkCode=as2&tag=adkisp-20
And here you would be able to find the price tag on iPad 3:
http://www.amazon.com/Apple-MD328LL-Wi-Fi-White-NEWEST/dp/B00746MXF8/ref=sr_1_3?ie=UTF8&qid=1347517300&sr=8-3&keywords=iPad&tag=adkisp-20
Its a lot more than its worth.