Wall charger dead out of box...
I returned the charger to FutureShop, and they replaced it with a new one from the 10W charger accessory and everything works fine.
Looks like there might be an issue with the included charger. If you have the problem, return your charger to the place where you purchased your iPad.
-Paul
MacBook Pro 13.3" 2.53GHz, 4GB SDRAM, 250GB SATA (MB991LL/A), Mac OS X (10.6.1), 24-inch LED Cinema Display, iPad 16GB wi-fi