There are a lot of rumors about iPad 2 out there. The latest is about the release date on 2 March 2011.
I don't really care about the launch date, but it should be at the beginning of the year.
This is what I think about the rumors of iPad 2.
iPad 2 is smaller and thinner. Thinner because it has a flat back plane. Smaller doesn't mean is 7-inch. It still be 9.7-inch display, may be the frame just smaller. I will came with camera (for FaceTime), some expect there will be only front camera, but some expect front and back camera.
The device will use a newer and better CPU--A5. Current iPad use A4 CPU just as your iPhone 4 CPU but running at higher 1GHz speed. Just not sure the performance of the new CPU.
iPad 2 will have a larger speaker, expect a better sound quality.
This is what I think it may not happen in iPad 2.
SD slot and USB. I don't think so, not an Apple or Steve Jobs style.
Retina display? The iPad will have 2048x1536 display resolution. I think is a bit too high for current specification. I heard iPad 3 will have a better display.
I may miss out some rumors. Like my friend says, there is no attractive new factors for buyers. May be is Steve Jobs presentation.