yes but i believe only in 720p opposed to 1080p on the ipad2
Found this on Apple's Store too....
Mirroring supported only by iPad 2.
Video out supports up to 1080p for iPad 2 and up to 720p for iPad, iPhone 4 and iPod touch (4th generation). Movies play at up to 720p.
Use the Apple Digital AV Adapter to mirror whatever’s on your iPad 2 screen — apps, presentations, websites, and more — on your HDTV or HDMI-compatible display in up to 1080p HD (movies play at up to 720p).
Watch slideshows and movies on the big screen in up to 720p by connecting your iPad, iPhone 4, or iPod touch (4th generation) to an HDTV or HDMI-compatible display.
