"This is an evolutionary but still significant update."5.0 starson by alexkhan2010
Pros: The screen is indeed gorgeous and is alone worth the upgrade for owners of the first iPad. It's virtually a no-brainer for people looking to buy their first tablet. The graphics performance is great and 4G LTE makes it more useful out of the home.
Cons: It's heavier and a little thicker than the iPad 2.
Summary: This new iPad will only strengthen Apple's dominance of the nascent tablet market - especially in terms of profits since Amazon is losing money on each Kindle Fire it ships. No one else really has the ecosystem that Apple has - especially in the tablet space.
This isn't a revolutionary upgrade - just a very solid update of what the original iPad and iPad 2 have established. Owners of the first iPad and new tablet buyers should definitely pick this one up but I don't see why iPad 2 owners really need to upgrade after having it for a year or less. I don't think Apple expects most people to upgrade after a year - just like the phones since one is normally bound to it for 2 years anyway.
Apple's overall product line roadmap seems to be keeping the physical form factor roughly the same for two years as evidenced by the iPhone 4 and 4S and now the iPad 2 and this new iPad. I think we can definitely expect some new industrial designs and form factors for the next iPhone coming out in the summer/fall and the next iPad a year from now.