It really works, and it really works slick.
Get the Find My iPhone app, install it on the iPad.
First time it opens, you will be prompted to sign up for the free version of Mobile Me if you are not already a Mobile Me subscriber. The current free version is dedicated simply to finding iDevices.
Then on a computer, login in to http://me.com and enter the Mobile Me credentials that apply to the device to be found.
Find My iPad, Searching
Find My iPad, Found
Find My iPad, Send Message
Find My iPad, Message Sent
What it looks and sounds like on the iPad. http://lakedata.net/index.php/eng/Apple/Find-My-iPhone
Multi-tasking on the iPad .. http://www.gilsmethod.com/multitask-ipad-ios42
ios 4.2 on iPad where did the screen orientation lock go? Double-tap home key, scroll to far left of bottom pane. See Multi-tasking link for more info.