Most of the 15 million original iPads sold to date do not need to be replaced by iPad 2s. That’s not a problem for Apple, nor a failure for the iPad 2. A $500-800 device should have a useful life that is longer than a year. The same is true for all Apple’s products: iPods, iPads, iPhones, and, of course, Macs. Anyone who argues that the iPad 2 falls short because it doesn’t offer enough to get current iPad owners to upgrade is missing the point. Apple’s target is not the 15-20 or so million people who’ve already bought a tablet. They’re looking at the hundreds of millions of people who haven’t yet, but will soon. The year-over-year delta between Apple products is almost always noticeable but seldom dramatic.
Great review, as you’d expect, From Master Gruber at Daring Fireball: The iPad 2.