
iPad USB Camera Connection Kit is much more useful as it seems. Max Sha, an experienced user, was able to access external hard drive with this kit. All you need is a jailbroken iPad, an external drive, a split-USB cable to give the drive some power and a terminal of some sort (f.e. MacBook) to mount the external storage. While it is a little unwieldy, it shows that Terabytes of external storage for iPad is possible.
Here is a complete step-by-step guide from Max Sha:
