Took a little while to iron out the details, but of course it works, and it works well. Not sure of the load on the server. But if loads get too high, easy enough to move to Podcast, QTSS formats, or increase Web server capacity.
http://webportalmaster.com/index.php/eng/eZ/Advanced/Embedding-iPad-Capable-Video-into-eZ-Publish
Another interesting way to serve video to the iPad is to simply create a directory structure at the Web server root, set the directory index listings to display, then browse straight to the desired content in the form of the original file.
Also interesting, grabbed this shot straight from the iPad device, no itunes sync required. Just use the image capture utility built into Snow Leopard.
Image Capture App for easy iPad screen shot transfers.