Will I be able to transfer my existing epub/pdf files on to ipad and use the ibook application for reading it?
See Grow Your Library on this page:
http://www.apple.com/ipad/features/ibooks.html
As for pdf and comics, if an iphone can read them then an ipad can presumably read them.
In the end, nobody can tell you anything about this that you cannot figure out for yourself from what iPhones can do or find in writing in Apple's ipad pages. Because there is no way for anyone to know more than that.