Such as an external (not embedded) video cam which would connect through the add-on accessory camera connector (with USB port) so we can Skype with video. Or do we have to wait for the second gen iPad?
It's a slim version of OSX...so yes anything is possible. It's really a matter of someone releasing drivers to allow it to work, and then apps to work with.
That makes no sense. What about the millions of first gen iPads out there? This is one of the glaring omissions with the iPad, and Apple will de facto admit to this if they launch a second gen iPad with a camera.
I'm hoping that iOS 4.2 allows for such an accessory with the current iPads, and I hope that we see some 3rd party solutions to this (it won't come directly from Apple). This may be a real opportunity for other vendors. To offer Skype with no option ever available for video with the current iPads is really tragic.