PCWorld reports that tethering may be on the way for the iPad:
Well that sure didn't take long. iOS 4.2 Beta 2 is barely a day old and folks are already finding some interesting nuggets. As you can tell from the screenshot below, the new beta includes an option for Internet tethering, a feature that will allow iPad 3G owners to share their Internet connection with any ole' laptops they have lying around.
That could be useful for lots of reasons. When I was on vacation last summer, I broadcast a wifi signal from my laptop for both my iPad and my wife's iPad to use - but what if we had been in a wifi only hotel, where you pay for each device that gets on? Have a 3g iPad get on, and share a wifi signal. You would have to be careful about the b/w usage, given the charge models, but it would work.