If anyone knows who Don Giannatti is of the
Lighting Essentials - a Place for Photographers. Learn Lighting, Photography, Fashion and Editorial Portraiture on Location and In Studio. Portable Strobes, Studio Flash and Natural Light Photography blog, he's doing a 51 week project for his followers and icludes live web discussions with that.
One week the discussion focused on portfolios and the general concensus is that iPads are neat, but they're better off when you're not dealing with certain clients. It's not something you'd want to take in with you to an art director or other client at a place that deals with photographers all the time as at that point it become a gimmick. I have one and I carry it around as a portfolio for showing people I happen to bump into that are interested in hirign a photographer, but I'm putting a book together for face to face meetings with clients.
Press printed books look classy and they give you freedom to design them so that there's more to it than just showing photos. You can have one page with the original photo and the next with tear pages from the jobs you've worked on with a blurb about the company/person you were shooting for and the job you were doing.