Well.
I travel about 4 times a year with my Laptop. Never stopped by Custom.
The Custom in Israel is very relaxed , They hardly stop any one fro questioning.
iPAD is considered as a lap-Top. No custom , just VAT.
You can declare it in the Red line. You will be asked to give a guarantee that you take it out again. You can use a credit card, that will be cancelled when you get out of the country.
read all in here:
http://www.finance.gov.il/customs/eng/ole.htm
You are right that on April there was a problem, when they decided to consider iPAD as a Cellular Phone. but it was canceled.
I suggest you just walk through the Green line. I don't think they will fine you as being a tourist.
Bone Voyage and welcom....