Does iPad have a GPS?
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M$2 Answers
However, Apple announced the Wifi+3G model, which will be released later this month, will support Assisted GPS, which actually uses both the built-in GPS hardware, and Wifi/cell tower positioning, allowing quicker initial positioning and more accurate location definition.
So, if GPS is a big thing for you, you'd better wait out for the 3G version of the iPad.
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M$I have more info in my source about the GPS on the iPad.
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