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When I bought my iPad2 here on launch day last year I paid R4399 for the 16GB wifi version. Cheaper my foot.
Looks like I'd save over R1000 if I got a 16gb 4g in the UK and claimed the VAT back on my return to SA.
The UK version will work - 3G is a pretty generic technology by nowIf you're happy to jailbreak and unlock that might be wise. I don't know if the UK versions will work out the box on SA networks.
Just get a wifi one and use your phone as a personal hotspot. Works for me.