The folks at Mission:Repair have received iPad replacement parts from Apple. While checking them out, they noticed a slot that seems like it could accommodate an iSight. So they pulled an iSight camera from a MacBook pro and guess what happened. It fit perfectly inside the slot in the iPad's frame. In the picture at right, you see the iPad's frame (above and below) and the MacBook Pro's iSight (center).
And to add a little more fuel to the fire, some eagle-eyed event watchers claim that the iPad Jobs held on stage at last Wednesday's event actually did have what looks like a camera along the top bezel.
What does this mean? Will future iPads sport an iSight? Probably. But that doesn't explain why the 1st generation's case has the slot. It must have been pulled at the last minute for reasons of cost, function ... who knows.
If you're not going to buy one until it's got a camera, it looks like your prayers will eventually be answered.