Isn't the camera connection kit a USB adapter? Can you use the camera connection kit with your external hard drive?
As far as I know without a jb the camera connection kit will only recognize picture files. But once jailbroken and using an app like ifile you can use it with thumb drives (as long as they are low power and you get lucky for it to work) and sd cards.
So my understanding is that we will have to wait for the public i pad 2 jailbreak to come out before we can take advantage of this feature. I also don't like the idea of keeping track of all these dongles. stupid 30pin connector
PS. im a complete noob so i hope someone will correct me if im wrong