It’s already possible to type pretty quickly on the on-screen iPad keyboard, but shortcuts and key combos remain absent – unless you use an external keyboard. The following is based on my observations using an Apple aluminum Bluetooth keyboard, sans numeric keypad.
Text Editing:
• Command A – Select All
• Command C – Copy
• Command V – Paste
• Command X – Cut
• Command Z – Undo (supports multiple undos)
Accents & Special Characters
• Work same as on a Mac, mostly using the Option key
• Example: Option E followed by the letter e produces accented “é”
• Example: Option Semicolon produces ellipses (…)
Function Keys:
• F1, F2 Increase and Decrease Brightness
• Currently F3 through F6 currently do nothing
• F7, F8, F9 are Previous, Play/Pause and Next for audio tracks
• F10, F11 and F12 are Mute/Un-Mute, Decrease Volume, and Increase Volume
• Eject shows and hides the on-screen keyboard
Other
• Caps Lock works as expected
• Fn key is inactive and/or does not modify key behavior
• Tab moves between email header fields
• Tab moves the cursor between form fields in Safari – and probably works other places I haven’t yet found
• Pressing any key while the iPad is locked or “asleep” will revive it

Thanks for making me even more excited about getting the Ipad! Now I just need to get all my money… or wait til my birthday!
Wish me Luck!
Great post! Thanks for compiling this list.
I found out that pressing “Command – Space” has the same behavior as on the Mac – it switches between international input methods, which is great for me since I use English, German and two different Chinese input methods.