It's been out for about month, at least. I noticed it shortly after the iPF app became available. I'm pretty sure I mentioned it in that thread, but probably should have given it a thread of it's own.
It works ok, but you have to keep going to the menu and choosing refresh or it won't update the read and unread threads.
You can also read the iPadForums and many others using the TapaTalk app on Android. There is a version for iOS, but it's not optimized for the iPad.