AirPrint is Apple’s wireless printing service. By the time it ships, it should be able to send pages to almost any printer on the same Wi-Fi network, or to certain printers directly (HP ePrint have already been announced).
via tipb.com
This is a good overview of the new iPad features in iOS 4.2 due out in November. The clip shown above makes me wonder if they will be implementing Wi-Fi Direct in this version . . .