Week 2 with my Nexus as well and I'm loving it. Reading on this thing is so much better than on an iPad.
One downside I've found is that even though this is an IPS screen, my iPad 3 screen is just sooo much better in terms of color, brightness, contrast. In spite of that, I prefer doing almost everything on my Nexus over the iPad pretty much because the typing is sooo much more comfortable, the tablet feels better in my hands, and the UI is just quicker for me. Multitasking just feels better because you don't have to take your hands off to enable it with stupid gestures/taps (4 finger swipes, double taps of home button) and there aren't as many annoying animations to sit through. Browsing the web does feel a little cramped and Chrome sometimes has some weird image resizing issues. As a whole, I prefer the 7 and I'll probably be taking it with me for vacation over the iPad. I also really appreciated the gigantic battery on the iPad... that thing lasted forever compared to the 7 (though the 7's battery life isn't bad, just that the iPad's was extremely good).
Even though this thing is only $200, I really think it's a good iPad competitor. I know if I didn't already have an iPad, I could easily get by with the 7. In fact, it's pretty much taken away most of my iPad usage. I only really use the iPad if I'm planning to do long web browsing sessions.