There's no iPhoto app, which is really bad because I want to be able to tag and organize my photos on the iPad. The good news: it may not be far way. After all, iPhoto '11 is iPad ready today.
Plenty of people won't be bothered by GarageBand or iMovie, and will want just iPhoto—and they'll want to download it, too. If Apple does charge just $15 per iLife '11 app as this photo suggests, that's amazing news.