iPad USB Camera Connection Kit is much more useful as it seems. Max Sha, an experienced user, was able to access external hard drive with this kit. All you need is a jailbroken iPad, an external drive, a split-USB cable to give the drive some power and a terminal of some sort (f.e. MacBook) to mount the external storage. While it is a little unwieldy, it shows that Terabytes of external storage for iPad is possible.
Here is a complete step-by-step guide from Max Sha:
Some users have already performed jailbeak for firmware 3.1 and faced problems with several Cydiaapplications. Some work with no problems, others send the iPhone to Safe Mode. Here is a list of compatible and non-compatible apps.
Many visual enhancements and fixes in regards to source and packages display.
Fixed an issue with failing installs with dependencies under some circumstances.
Fixed a bug causing package information to be displayed incorrectly (size 0 bytes) on the first access, or when the custom information HTML page (such as packages from Big Boss' repository) was not displayed.
When updating a package, and one of its dependencies also has an update available, the dependency will be updated as well.
The package icons will only be downloaded when on the Wi-Fi to help you save on bandwidth.
The repositories are being refreshed upon Installer.app launch so you always stay on the bleeding edge with the updates. This is exeperimental behavior and we're not yet sure it will make it to the final release.
Fixed a script command Confirm that was returning invalid button index for the "OK" button.
Lots and lots of both cosmetic and internal application core fixes that improve the overall performance, presentation and stability of the application.
Community Sources package is updated. It now includes a repository for modmyifone.com (lot's of stuff there) and iphone-notes.de (BSD Subsystem and OpenSSH), as well as numerous carrier bundles and other useful stuff.
The easy way to connect to IPhone is thriugh SSH. But this method works when you have wifi. Now there is an application that allows to connect thriugh SSH without wifi, regular usb cable is used instead.