I believe it only has one speaker and I'd bet the speaker/mic are ported from the iPhone to save costs.
EDIT: Just looked at a picture and it may have two. However they are right next to each other negating any stereo effect.
I think they are soft. You CAN watch a movie, but you need quiet to really hear it. I found this thread while looking for external speakers fornmy ipad if that tells you anything.
That's interesting because I was in the Apple store this past weekend and played with 2 different iPads and as crowded and noisy as that store was I was able to hear the music I played in iTunes perfectly, I actually had to turn it down a bit. Played a couple of games and the sound was very strong and loud.
I found the speakers to be much better than what I expected. They are a little tinny, but turning on bass boost helps alot. Cupping your hand around the speakers also helps.
I was pleasantly surprised by the sound of the speaker.
I am impressed by the speaker - more than sufficient for watching TV shows and listening to music.
The iPad speakers are amazing. I'm on mine right now listening to the iPod and it's rather loud. Obviously it's no comparison to a set of desktop speakers but it is rather loud considering, very clear too.
That's interesting because I was in the Apple store this past weekend and played with 2 different iPads and as crowded and noisy as that store was I was able to hear the music I played in iTunes perfectly, I actually had to turn it down a bit. Played a couple of games and the sound was very strong and loud.
Better than the iPhone, not as good as the MBP's or iMac's and certainly not even comparable at all to a good set of headphones.
I think the speakers are only about the same as the iPhone 3gs speakers.