This is an interesting classroom management concept for 1:1 situations when teachers want to control the presented content. Not sure about the ability for students to interact with content, but they could take screencaptures and add to their notes easily. Lots of potential.
When we teach iPad workshops, we like to begin with "tap and hold" as a skill. While many folks have already figured it out, the concept is new to a majority of the educators whom we work with. This is a great post describing some of the results.