Just another quick update.
This setup is working GREAT for me. I've been sharing desk space with my oldest son, so I'm often shunted off to the couch so he can finish his homework. Propping up the ipad on the arm of the couch (using my gorilla pod as a wedge) has been FABULOUS.
I've only reviewed 5 chapters so far, but, I already know it's gone much more quickly, being able to confirm screenshots and the current program side by side saves me tons of flipping and triple-checking.
THAT SAID, when I was discussing this with some people on twitter, they pointed out that the app I linked to above is no longer available in the iTunes store. I'm sure the next time there's an iOS update, my app will quit working and I'll have to find another one.
But, it's going great so far.
Thanks to everyone who chimed in. I'm sure others will benefit by reading your suggestions, and I'm still keeping some of the options in mind, if I ever go with a more stationary workspace here at home or pony up for a projector.