So in the genius forum someone asked about BT and aTV to run Pages and stuff.
I've been thinking about doing just that with one of the 24" monitor/HDTV combos you can buy. You already have iWork and iLife on the iPad. I could see a setup where you'd have an AirPlay enabled monitor (either native or via aTV), a BT keyboard and using the ipad as a trackpad or input panel. iLife might be painfully slow at the moment in comparison to doing it on a Mac but iWork could be made to work pretty well in this sort of configuration.
If iPad apps could access and directly manipulate files living on a Time capsule as if they were local that would take care of some of the storage limitations with bigger files.
Or, if you want to live in the cloud, all the files could reside in iCloud and the iPad apps were just the UI front end for server apps that manipulated these files when in "cloud mode".