How do hide iPod icon with SBSettings?
Are you running OS 3.1.x or 4.0.x? I've had some inconsistencies with hiding certain icons on my jailbroken 4.0.1 phone. It may be that SBSettings isn't fully compatible with OS 4.x yet.

edit: Fail on my behalf. Somehow I missed "iPad" in both your question AND tag. /facepalm