Wordpad was essentially just the Text Edit control, wrapped in some GUI cheese. Unless they plan to remove that control, it's trivial to re-constitute the program. When I took a Windows programming course, this was actually one of the homework assignments.
But I think it's the loss of the Wordpad that matters to people, but that Wordpad will be yanked from all current and future Windows machines. For people who use a lot of different systems as guest, this can matter.
