The iPad 3 will probably have the following features: A full retina display. The iPad is the only of the "i" line not to receive the upgrade. Better quality cameras (hopefully a HD front facing camera and at least a 3 megapixel on the rear). A new processor which will be faster and hopefully quad-core. Now, knowing Apple we won't be utilising a quad-core chip this year. It'll hog up the battery life which would be much to Apple's dismay. 4G LTE. The iPad may be the first Apple product to have 4G in it. 4G is now very mainstream in the United States and Apple should definitely release a 4G tablet. Siri would be nice too. We all know of Siri. I personally think its a novelty but that's up to the 4S users to decide.
A lot of rumors have speculated a price bump of $70-$80. What's not changing though? Even though rumors have speculated a smaller iPad, it probably won't be happening now but Apple is full of surprises! The smart cover was revolutionary in my opinion, hopefully they can improve on it, make a new even more revolutionary cover/case or keep the genius of a cover.

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