Q: I have an Internet tethering option on my iPhone 3GS. Will I be able to tether it to my iPad over Bluetooth?
A: Nothing regarding tethering was announced for the iPad. Since the iPad does have Bluetooth, it is theoretically possible for it to use a tethered connection to an iPhone, however Apple has not given any indication as to whether this will be supported. Our current guess is that we probably won’t see this capability out of the box, although it may appear with a later firmware update.
It also seems likely that the jailbreaking community will rally around the iPad as well, which will undoubtedly lead to somebody building the necessary software to unofficially handle tethering support on a jailbroken iPad, in much the same way that the iPhone was able to provide tethering capabilities for jailbroken users long before iPhone OS 3.0 made it officially available.