This is the most epic of all epics.
A dad was locked out of his iPad by his toddler. But after tweeting a picture of the iPad screen saying "iPad is disabled" (for 25 million minutes) he found out that his iPad was basically a coaster now.
When I let my son use my iPad I make sure to say "If anything happens to this thing I'm making you cook dinner every night for 30 days." (He hates cooking) And, so far, so good.
Make sure you read the comments. It's worth the time. And good luck out there, parents!