For what it's worth you also need iTunes for software updates. Maybe one day we'll see OTA updates.
I would love them to make two changes for 4: OTA updates and syncing to mobileme or a USB hard drive. If they did those two changes, it would open up more people to be able to use and iPad.
I suppose so if you never want to do any updates or get media onto or off of it. Apple lists iTunes as a requirement so I don't think I'm exaggerating.