stephen, you can absolutely use it just as you do the IPT!
The iPad has wi-fi built in and you do NOT need a subscription to anything to use it! There is no contract required, no monthly fee, to use wi-fi. It works, in that regard, such as the iPod Touch does.
Now, some of the iPad models also come with 3G (a way of accessing the net and data from wherever cell service is available), yet even for those, you do not need a contract, but can sign up monthly for the service. That's only worth considering if you envision yourself roaming around with the iPad to places where there is no wi-fi. Otherwise, you can save $130 and save yourself all monthly charges and get an iPad with only wi-fi.