Mark Gurman reporting for 9 to 5 Mac:

Hidden within the APN network settings on the iPad 3G is a new section dedicated to internet tethering. This tethering appears to be the type of tethering iPhones currently use versus tethering the iPhone’s internet to an iPad.

Internet tethering sounds much more attractive on the iPad than it does on the iPhone. The increased battery life of the iPad and the ability to turn on both 3G and tethering without any contracts seems like the perfect fit.