Apple is going to ship the iPad 2.0 with Facetime next year. But you don’t have to wait. I do agree that iPad lacks camera to have that feature. But, with a little trick, you can get the FaceTime feature to the current iPad models.
To have FaceTime in your iPad, all you have to do is to download and install Display Pad for Mac. With this app you can extend the screen of Wi-Fi Mac to iPad. By launching the Display Pad app in your iPad, you can at least see the video in Apple tablet.
iPhone version of skype can also help you to watch the other person’s videos on your tablet’s screen.