Gizmodo "helpfully" ran a story today entitled "Don't Buy an iPad" - addressing precisely this issue. (Needless to say, it garnered the expected amount of Apple-hating trollery.)
Buying any tech device presents this sort of dilemma. I'm old enough to remember paying eight hundred freaking dollars for a TWENTY MEGABYTE external hard drive for my Mac Plus. If you wait long enough the odds are very, very good indeed that you would be able to buy a far more capable device for the same amount - or less - than you pay for today's technology.
The flip side of this argument is that by waiting you forego the very real benefits owning that technology brings. Who can say how many jobs I got, how much money I've, how many computer-related problems I was able to solve, etc. etc. - precisely because I've been working with personal computers since the days of the Apple II.
If I were you, I'd go ahead and buy the iPad. Sure - its pretty likely that, before the end of this summer, that Apple will announce some sort of iPad V2. Its probably going to have a camera. Its almost certain to have more memory and a faster processor.
But don't let that stand in your way. For one thing, the iPad needs a camera not in the least. And for 99% of the things you are likely to do with it, you won't miss the extra RAM or cpu cycles.
Figure out what five months of iPad-owning "utility" is worth to you. How many presentations can you make with it. How much more reading/video watching/game playing/etc. etc. will you be able to do with it. Is it worth a dollar a day to you? If so - then come July 1, you can sell your "nearly new" iPad for a $150 loss - and turn around and buy V2.0.