Since apple claims there are only a few apps left that DON'T work on the iPad, I am sure they will not develop an app that can only be used on the iphone. I would also venture to guess that they will make an iPad version of iMovie that will have more features, and likely cost more $$$ too.I don't know all the ins-and-outs [now watch me speculate wildly] but clearly the iPad lacks a camera, and if iMovie "requires" a camera, then it's not going to work. But like you, I'm also sure there will be an iPad version of iMovie at some point.
I think between the new iphone and the ipad that you could create new content in a way people didn't consider-- everyone assumed that the iPad was a consumer product. I think that they held back [the camera] so they can both market a newer product later, as well as make sure they don't put out more features than they can support.. once they perfect the current product THEN they can try to add more to it [...]
My main concern is that the iphone is still going to be locked into just AT&T [...] I do NOT want to be with AT&T anymore under any circumstances. I may still get the phone, but not the service if it is tied to THEM.
There's really no reason why you shouldn't be able to edit video on the iPad right now; you can already import and playback video using the Apple Camera Connection Kit - though it has to be the right kind of video; if the iPad can't play it, it won't import it.
Personally, while I'm excited about 720p video on the iPhone, I can't say I'd be jumping in line to get a 720p camera on an iPad; not only because I'm already carrying an iPhone, but because the iPad is too large and awkward to use to take pictures or video easily.
The only reason I can see for having a camera in the iPad is to do video chats and the new FaceTime thing. But my understanding about the current version of FaceTime is that it requires a phone connection to start the process. And the iPad won't support that (at the moment!) Maybe that's the real reason why they didn't put a camera in the first iPad; because their FaceTime technology wouldn't work with it. They'd have had to develop iChat instead; and then everyone would be complaining that FaceTime won't work with the iPad's camera...
Some are speculating that the reason AT&T is offering people an early upgrade is to lock them in before Apple announces another network provider later in the year. That may be true; but didn't AT&T move up the upgrade eligibility for people last year too? I'm not sure I would bet either way on a second provider coming this year.