The first three Adobe Photoshop iPad apps are now available at the app store. I've been using them for a while (full review to come later) and they are really really good.
The price is right on the mark too: Adobe Eazel, my favorite both because of the media simulation and the five finger interface, comes for $5. That works as a standalone paint application and connects to Photoshop, sending images that get automagically scaled to whatever resolution you want.
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Adobe Color, which will mostly get used by designers to create color themes on the go, is available for $3. Adobe Nav, which allows you to control Photoshop files and tools from the iPad, is available for $2. I'm getting them all.