It looks promising and it seems to do both SD/ and usb options on it. And although apple is not gonna expand on the USES, 3rd party companies sure will!
p.s. I saw take down pictures of IPAD and there is a lot of free space available on the inside of unit, probably next years version could have usb port inside, since this adapter in effect turns the apple port into usb port. I guess apple realizes too that if it's gonna be a MEDIA device you need to be able to add media too it on the fly.