So, the new iPad 2 finally comes with a host of video features, from cameras for video conferencing to a HDMI output (in fact, many of the things I pointed out were missing from the original version); it's also got iMovie, so you can edit your films on it (and presumably will be able to plug in third party cameras).
Not a lot missing, then. But I still find that the iPad is better as a consuming device rather than as a replacement for a traditional PC and the lack of Flash remains a big bugbear (although the excellent Puffin browser makes up for this in part).