The only big advantage that I see is the multicore processor and the 4G otherwise they aren't incredibly different. I am thinking the Ipad2 16GB will fulfill my needs. I am going to get the refurbed unit most likely. The apple site claims that it gets a new battery and case along with any other under performing parts +1 year warranty. That is good enough for me. I was really hoping for waterproofing of some kind on this new model. Similar to the Razr and other phones that now have this feature. I wasn't expecting too too much with this update though.