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Not feeling the magic? You can take it back if you move quickly, but it will cost you

Buzzmachine‘s Jeff Jarvis, one of the Web’s most prolific scribblers and author of What Would Google Do?, has decided to return his iPad. He says he knows two other people who are planning to do the same.

[UPDATE: Jarvis has ostentatiously posted a  YouTube video of his iPad reboxing in which he gives his reasons for returning it. Click here or see below the fold.]

It’s not clear whether Jarvis and his friends are outliers, or the beginning of a groundswell of buyer’s remorse.

So far, I haven’t seen any sign of it — beyond Jeff, his two pals, and one other guy I know. A Google search Wednesday for “How do I return my iPad” turned up exactly zero results.

But it’s likely that at least some of the 300,000 or so people who bought iPads Saturday without ever laying hands on one are having second thoughts. Or may wish they had held out for the Wi-Fi + 3G version that arrives later this month.

Are you planning to return your iPad? Tell us why.

If you want to trade up, or just get your money back, you should know what the ground rules are. Apple (AAPL) spells out its refund policy in detail here, but the key points can be summarized pretty succinctly:

  • You have 14 calendar days to return your iPad to the place you bought it
  • It must still be in working order (iPads DOA will not be accepted)
  • You can’t have engraved or otherwise personalized it
  • It must be returned in its original box with all the accessories, manuals, documentation and registration forms that came with it
  • You must pay a 10% restocking fee (i.e. $50, $60 or $70, depending what model you bought)

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[Follow Philip Elmer-DeWitt on Twitter @philiped]

Below: Jeff Jarvis’s reboxing video.