I have been through 3 iPad 2s. All of them had the screen bleed issue, two of them had wifi problems, and one had a speaker problem. The last iPad also had dead pixels, and cool spots on the screen (visible with white background), which made it difficult for my eyes to focus while reading.
When I went into the store (I live in Sydney, Australia), they refused to replace the iPad, and I was told that the problems I was experiencing are 'simply a reality of owning an iPad 2' (direct quite from Genius). After complaining to the manager, I was given the option of a replacement, or a refund. I chose replacement, and was handed with iPad 2 #3. Had it for 2 weeks, and got the refund last week.
Despite all that, I would like another one. Not all iPads have issues. I have friends who don't have any problems with theirs, I just think I have been unlucky with bad products, and even worse retail/genius apple staff.
I always say, "if in doubt, don't". On the other hand, you could always buy one, and if you're not happy with it, take it back within the returns period.