I had the same thing happen. My son's ipad has been roughed up before but the otter box saved it. The last fall did the ipad in. It had a scrolling white bar on a grey background. I was about to give up and came across this post on google. I took the ipad out of the otter box and did the drop slam and had more white bars and static. I did the drop slam again and the ipad came back to life. There are a few thin lines on the display but it works. Beats the price of a new tablet.
-- Update --
As of 8/2/2014 from my original post, I want to say that the IPad is 100% operational still today. All the lines disappeared on the screen shortly after the fix. I like to see others finding this post and commenting on their success. All the credit goes to AVI, May 8, 2012 (From what I can tell, they are the earliest answer) for answering this post and saving all of us a trip to either repair or buy new IPads.