As posted on the All Things Digital site, Apple issued a statement on Friday stating that they are looking into the issue. They did not state whether it was a Verizon or Apple issue and are simply investigating it. There are something like six pages of comments on the issue on their own Apple support forums so they had to make some acknowledgement. In some cases I heard they have been letting people exchange faulty devices for ones that don't have the issue. I understand that the problem is that 3G is lost and the iPad switches to roaming and then requires a reset to get back to 3G. I can confirm that my AT&T 3G iPad connects flawlessly every time and does not have this issue.
The iOS 4.3.2 update is going to be coming to all the latest iOS devices and it will include some minor enhancements, fixes, and security updates.