It's probably going to suck I'm afraid. Note how they don't even mention that it's an auto-focus camera on the tech specs page over Apple.com. But on the iPhone 4 page they mention this.
Also, they only say you can touch to change exposure and whatnot instead of touching to focus. So, fixed focus low-res camera that won't be good enough for taking notes, scanning barcodes or anything else really.
Why would they do this to such an important device? The least they can do is match the iPhone 4 specs. As it is now many apps won't work on it and I'd have to carry a separate camera and camera connection kit with me to take decent shots of things. I intend to use the iPad at work, but this means I have to carry dongles and more devices with me!