The ipad is a second class browsing experience not because of the lack of flash, but the lack of cache. It's just not anywhere near as snappy reading as a Real Computer(tm) because it's constantly reloading stuff that's been purged.
My usual style of reading (on the desktop) is to pop open a pile of stuff in tabs, then batch read through. Can't do that on the iPad.
Safari could also use a few more cycles to make it seem that much snappier. While it feels like magic, and I would have killed for its browsing performance a few years back, it just doesn't feel quite there yet.
Also, just in the last month or so, I've noticed some sort of background task that causes stuttering in some places. (mainly in angry birds). For the first time, I've noticed that I needed to restart it. Its' a small thing, but it's also the first time I've had to resort to computer troubleshooting on it.