9to5Mac reports today that beta 2 of iOS 4.2 for iPad appears to reveal that tethering is coming to the iPad. Apparently, they have found a new option, entitled "Internet Tethering" within the Cellular Data>APN Settings on the iPad 3G, and they have the screenshots to prove it too. 9to5 Mac says that this would appear to be the type of tethering currently used by iPhones, rather than tethering the iPhone's internet to the iPad. The website says that the way in which the user has to enter their username and password to set up internet tethering is virtually identical to the way in which tethering used to be set up on the iPhone prior to it actually getting an official iOS interface, which leads them to conclude that internet tethering for the iPad may well be being introduced in exactly the same way as it was on the iPhone, so it's possible it may even be coming to the iPad as soon as the launch of iOS 4.2 in November.
Interestingly, 9to5 Mac also reports that they were initially unable to obtain the APN Settings option using an iPad 3G hooked up to the AT&T network, and in fact only managed to get it working by hooking the iPad up to the 3 network in Europe.
Source: 9to5 Mac