1. Here is the current text for Apple's returns policy taken from the Apple website:
Return and Refund Policy
If you are not satisfied with your Apple purchase of a product, please visit online Order Status or call 1-800-676-2775 for a Return Material Authorization (RMA).
For iPhone returns, please refer to the iPhone Return Policy section below. For eligible Mac, iPod, and third-party products, you have up to 14 calendar days from the time you receive your item(s) to initiate a return. Personalized iPods (e.g., engraved or customized in any way) may not be returned for refund or exchange under any circumstances unless such product is Dead on Arrival (see the section below for more detailed information on such Dead on Arrival products). If the item is returnable and you send it back to us unopened in the original box, Apple will offer you a refund based on your original method of payment. You must return the product to the Apple warehouse within 14 calendar days of the issuance of the RMA. All products must be packed in the original, unmarked packaging including any accessories, manuals, documentation, and registration that shipped with the product. Apple will assess a 10% restocking fee on any opened hardware or accessory. If you purchased your order using an Apple Business Lease, Apple may ask you to provide a major credit card (Visa, MasterCard, American Express, or Discover) so Apple can assess the 10% restocking fee.
Please note that Apple does not permit the return of or offer refunds for the following products:
Electronic Software Downloads
Software Up-to-Date Program Products (i.e., software upgrade subscription product)
Apple Gift Cards
Apple Gift Packaging (origami style gift box with ribbon and greeting card)
Apple Developer Connection Products (Membership and Technical Support)
*You may return software after rejecting the licensing terms, provided the software is not installed on a computer. However, software that contains a printed software license may not be returned if the seal or sticker on the software media packaging is broken.
Note: Apple recommends that you (1) use a carrier that offers shipment tracking for all returns and (2) either insure your package for safe return to Apple or declare the full value of the shipment so that you are completely protected if the shipment is lost or damaged in transit. If you choose not to (1) use a carrier that offers tracking or (2) insure or declare the full value of the product, you will be responsible for any loss or damage to the product during shipping.
iPhone Return Policy
If you are not satisfied with your iPhone purchase, please visit online Order Status or call 1-800-676-2775 to request a return. The iPhone must be returned to our warehouse within 30 calendar days from shipment to avoid an $175 early termination fee. The iPhone must be returned in the original packaging, including any accessories, manuals, and documentation.
Apple will assess a 10% restocking fee on any opened iPhone. Shipping fees are not refundable.
Note: iPhones must be returned to the original point of purchase (e.g., Apple Online Store, Apple Retail Store, AT&T, Apple Authorized Reseller) with a proof of purchase (e.g., Shipment Notification, Invoice Receipt).
Although there isn't a specific clause covering the iPad, I would expect it to fall under similar terms of either the iPod or the iPhone (my guess is the iPod).
2. It is very likely that the eBay price of the iPad will go up past retail if you are lucky enough to get one on eBay before they are available in large quantities. But that window of opportunity will likely be small, and it's always a gamble with eBay. Nevertheless, you might want to consider that Apple forbids resale of their products when purchased as a consumer. Would they do anything about it? Probably not, but then they just might. Of course, I'm sure there will be plenty of iPads on eBay in the first few weeks.