Don't worry, friends! The hundreds of dollars you've spent on fart apps will not have gone to waste with the iPad: it can fart, too. Just smaller, and in the middle of the screen.
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The iPad can run "virtually every one of these apps, unmodified, right out of the box." They can either run it very small, 1:1 pixel, in the center of the screen. Or they can "pixel double" it and run it full screen, in a low resolution mode.
For new apps, however, Apple is releasing a new SDK for apps with special interfaces for the iPad.