I just got my iPhone 4 tethered via AT&T today. I got to the AT&T retail store and the bozo that helped me said the iPad couldn't be used with the iPhone hot spot tehthering... WTF... What kind of employees does ATT hire... Anyway. I told him to enable the Tethering option and in about 10 seconds, I had my 32GB iPad 2 working. There is a cool double ring icon instead of the Wifi icon. The iPhone turns blue and shows how many connections are active. The ATT guy turned white and started to apologize... Anyway, the speed is pretty decent (1Mb/Sec download and 1.5Mb/Sec upload) I don't know why the upload is faster. Bluetooth is a lot slower than WiFi but the iPad 2 can simultaneously connect both ways. The iPhone shows 2 active connections. The best thing is that the iPad 2 "thinks" it's on WiFi so Facetime Works great thru 3G. It's so much more fun that the small iPhone 4 small screen and u can drag the little PIP screen around but it will snap to any of the 4 corners. Of course, face time only works on the iPad. Trying to use it on the iPhone gives you the stupid message saying u need a WiFi connection... I'm loving my iPad 2 much more now since it is fully portable now and Facetime works great. Actually anything requiring a WiFi connection works over 3G now. Great!!!