I can confirm that this does not work (and thankfully the iPad lived). I am guessing that the camera connection kit is like other ipod/iphone accessories, which use a resistor between pin 21 and ground (pin 15 I think) to tell the device what to do with its usb line. Problem is, the kit is so new that no one has taken a multimeter to the pins to figure out if this is the case and if so, what the right resistance is. So basically Apple isn't charging you $30 for a F<>F USB adapter (along with the same, routed to an SD card slot), but $30 for a F<>F USB adapter and a <1 cent resistor, which is still kind of a ripoff really. It would be lovely if someone who has access to the kit would test my hypothesis, otherwise I will be able to do so next week. I highly doubt that apple has anything more complex than that in the thing (like a chip or IC), but I suppose it is possible if they really wanted to be jerks and stop people from making their own. Hope that helps, I'll post here again if I find anything more.
EDIT: Another possibility is that the iPad uses some of the other pins in a creative new way, for instance those formerly used for firewire... I dunno, someone might have to sacrifice a CCK to science