Back when iOS4 was announced earlier this March, the whole iPhone community jumped up and down with its features. Sadly, iPad owners were left out. Steve promised it’ll be out this Fall and AdAge reports it’ll be this November!
(This is a repost of a comment on that article that started off quickly, but soon turned into a wall of text that I felt deserved to be shared here)
I think this is evidence that iOS4 is rushed because Apple needed to get a major point release out for the iPhone 4, and decided to cobble together the best point release they could in time for the iPhone 4 launch, which is why we're seeing un-Apple-like issues with the iPhone 3G and iPod touch 2G beyond just them being 2 year old hardware. I think Apple didn't want to sully iPad owners who have this sleek new device with buggy and unoptimized software (despite 3.2 containing many features of 4.0 already) until they could make it actually work WELL.
My guess is that Apple announces iOS 4.1 at their fall show when they announce the iPod touch 4G - it will be far more optimized and will run on all iOS devices (except the first-gen ones, I'm guessing, Apple may be giving up on them now). The problem is that there are some features in iOS4 that the iPad should have that aren't related to multitasking, like, say, threaded emails. We don't need multitasking quite yet on the iPad if it's not going to work well, but there are far simpler things like note syncing that should be added to the iPad. Maybe an iPad OS ~3.3 that's basically another stepping stone to keep the iPad from feeling ancient compared to the phone-size devices?
I just hope that starting with the iPad version of the iOS 4.x, that the fork is permanently repaired, as it sucks having this device that can't do things that your phone can't do, despite it being more powerful. But I'm guessing that the iPod touch 4G (that I bet WILL have at least a front-facing camera with FaceTime support, and likely a rear-facing camera, especially with the iPhone 4 being thinner and still having auto-focus) will spur an iOS 4.1 that will include the iPad support, even if iAd doesn't work immediately, as you said. It just sucks not having iOS4 right now, but I suppose that is the pain of the early adopter.