Back on March 2nd I wrote the following on Twitter:

If no available wifi but #VZW #iPhone4 with personal hotspot and #iPad2 connected to hotspot, will #FaceTime work on the iPad?

In longer words than 140 characters allow, if you find yourself somewhere where there is no available WiFi but you have a Verizon iPhone 4 with Personal HotSpot enabled and you have an iPad 2 connected to the Personal HotSpot, then, even though you can't use FaceTime on the iPhone, will FaceTime work on the iPad?

The answer is yes.

Hotspot Tethering Allows FaceTime Calls Over 3G