You won't get Camera, FaceTime or PhotoBooth apps on it (as there is no camera) which are on the iPad 2, but apart from that you'll get the other built-in apps. The manual for the iPad contains chapters on each of the built-in apps - 1st gen iPad updated to iOS 4 : http://manuals.info.apple.com/en_US/iPad_iOS4_User_Guide.pdf (it includes a chapter on iBooks which is a free download from the store, it's not pre-installed). Most of the apps in the store will work, apart from those which need, for example, a built-in camera (before buying an app you should check it's requirements on it's description page in the store to see if it's only for the iPad 2)