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No streaming video....although some streaming pandora.
Terry White on his blog has a suggestion for people who have the 3G but plan to use it mostly in wifi mode and only use the 3G as needed and want to see if the 250 plan works for you: put the iPad in airplane mode then turn on the wifi. This keeps the iPad from occasionally connecting with 3G even in a hot spot and running up your data use.
Overall, the $29.95 is pretty cheap for unlimited data I think; the international plans are killer expensive, however....
Most plans do have that 5 gig softcap, such as the iPhone plan. But AT&T has specifically stated several times when asked, that the iPad plan is truly unlimited, with no warnings from them for using "too much".
Terry White on his blog has a suggestion for people who have the 3G but plan to use it mostly in wifi mode and only use the 3G as needed and want to see if the 250 plan works for you: put the iPad in airplane mode then turn on the wifi. This keeps the iPad from occasionally connecting with 3G even in a hot spot and running up your data use.