If I root my Droid and install the Wifi hotspot app, could I essentially use my Droid for my iPad to get the internet?
Yup, I do that with my iPad and it works perfectly. I've seen speeds of up to 2 megs per second download thru my Droid. Wifi tether will eat up your battery, but I personally don't see the need to pay more for the 3G iPad, and another $30 a month for data when I just have to hit two buttons on my Droid.
Only caution to keep in mind is the prohibition against tethering with the Droid. As long as you're comfortable with the risk that entails with heavy use of the iPad, it's technically feasible (as the previous poster noted.)
Curmudgeon Member of Rescue Squad
I rooted yesterday just so I could connect my iPad and it works fab! I was a nervous wreck, expecting to brick the phone, but I guess an old dog can do a new trick or two (with the help of these forums).
Don't have an iPad yet, but I rooted on Monday for this purpose and I'm glad to see that it's working. I was very nervous about rooting, I had never rooted a phone b4. I gotta say, it went much smoother than anticipated, just follow the directions exactly at droidmod for rooting a droid running 2.1, it worked flawlessly. You can even do it on a mac running a parallels virtual windows machine. I'm much more confident now. Have to drive an hour to the closest store selling iPad's, hopefully this weekend.