I've did a search and read the manual and I still don't understand the backup process.
1) Once I sync the ipad2 to iTunes, where does the backup go on my pc? (calendar, contacts etc...)
2) Why don't the apps in my "wish list" copy to my iPad once I sync?
Mac: ~/Library/Application Support/MobileSync/Backup/
Windows XP: \Documents and Settings\(username)\Application Data\Apple Computer\MobileSync\Backup\
Windows Vista: \Users\(username)\AppData\Roaming\Apple Computer\MobileSync\Backup\
As noted above
and as to 2, there is nothing to transfer as you never bought it.
Thanks everyone. This was a great help!