Skype for iPad was released but then pulled. But not before Rich Tehrani snagged a copy and tested it. Works great! Though the resolution of the iPad 2 camera could be better.

As for the reason it was pulled, according to Skype's Twitter account, "To ensure your best Skype experience, we’ve temporarily removed Skype for iPad which went live prematurely today.” They also tweeted, "We know you’ve been eagerly awaiting Skype for iPad and apologize for the inconvenience."

If you cannot wait for Skype to put it back on the App Store, you can always try my workaround to make Skype iPad video calls.

Update:
It's back on the App Store! Get it here.

Update 2: Official word from Skype on the release.
I like the new capability to be on a video call and still send instant messages. Nice!