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They run very different builds of the same operating system. No, it's not that simple.

Agreed. It is rather a very cumbersome process. If you have programming experience, you should understand :) I won't get into the details however a very basic and useless example would be the screen size itself. The idea of the iPad is to make the most of the screen size and hence apps must now be written (and zoomed) to do so. Like said, this is very basic and even a novice like me can do it but it can be cumbersome.
 
Will the iPad get multitasking in the update? I was under the impression that the reason the older iPhones couldn't take advantage of multitasking was their 256 MB of RAM and the iPad has 256 MB of RAM.t
The increase in RAM in the new IPhone is to take advantage of new camera/video/face time features.
 
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