Worked perfectly for me on my wife's ipad2;
Using n900power kernel running ideal settings.

Note: charging(the N900), obstacles,range(>5mtr w/o walls) and transmission ANGLE!!! All seem to have a severe affect on usability(disappointing).
However, still better tethering the iPad to either her iPhone or my joikuspot than paying apple for the 3G and yet another subscription based service.

Nb: multitasking while running joikuspot on n900 and surfing iPad ran the N900 up to 850mhz and from 38degC(when I moved it from my lap to the couch) to 45degC within 5 minutes.
Cooled it down to 33 using an ice-pak(gel). And stopped multitasking and it's now still there.. But not using the iPad to surf because I'm typing this!!!

Overall, happy with having a functional hotspot when the wife is out!