If you have an iPad and an iPhone/iPod touch, you can pick up 1Password Pro right now for $8.99 (it's on sale right now, the price will eventually go up to $14.99) and later on, this version will also include other features that won't make it to the standard version (one in particular they mention is MobileMe syncing).
I'm happy to read anything about iPhone and iPad app development, and I like hearing that someone has given thought to, and made allowances for, both types of iPad users (those who own an iPhone or iPod touch, and those who don't). I also like their transparency in letting people know how the upgrade path will go.
I'm still wondering about pricing in the App Store for iPad apps, and how peacefully all of this will end up coexisting. There's nothing to do but wait and see how things actually shake out with real users and actual app purchases, but I'm hoping there's more thoughtful examination and graceful upgrading out there. Knowing that consumers can be, shall we say, less than kind about things like pricing and upgrades, I'm hoping Agile will get credit for having spent some time on making this easier on people.