I've got some code running in the iPad Simulator.  One thing I discovered is that an application has to be compiled against a specific version of the SDK.  When I created a new iPad application, the updated iPad window for the Interface Builder became available.  Very nice indeed.  Everything was the same as before, so that was good.  I fired up the iPad Simulator, and I got this below:

The next step was getting my app on there, which was easy.  Then I got my app running on the simulator, and I saw this:

Basically, everything is filled with goodness and seems to be running correctly.  **fingers crossed**

PS. Somebody on twitter thinks I violated the Apple NDA by putting up an image of what I did. I don't know if I have or haven't, but I've removed them.