It starts at the infamous Foxconn factory in Shenzhen, China. That's the "iPad nursery," if you will. From there, iPads destined for the USA fly to Anchorage, Alaska, a journey that Google Maps struggled with (38 days by car? Oh, it'd be much shorter by car).
From there, the iPad that Nick was tracking went to Louisville, Kentucky, where it will remain (UPS shipping calls it "UPS Internal Activity") until it's set free on Saturday.
Many TUAW readers wrote in to say they've received shipment notifications, so we can assume that your precious is somewhere along this route. In the meantime, why not install a package tracking app on your iPhone (you remember your iPhone, right)?