But in any case, let's be real - the iPad 4 is really the iPad 3.5. It's wasn't a big update.
I'm sorry, the iPad is really the iPad 3.5? So was the iPad 3 really just the iPad 2.5?
-iPad 4 benchmarks are more than double the graphical performance of the *underpowered* A5X processor (nevermind it's 1.3ghz vs. 1 ghz - I will concede that processor speed alone doesn't yield a whole lot of difference)
-iPad 4 radiates much less heat then the iPad 3 (I've used both extensively)
-iPad 4 has an HD front camera which, in real world use, makes a huge difference. FaceTime on the iPad is actually pretty pleasant now!
-iPad 4 has full Siri -- if you're in to that sort of thing
-iPad 4 has lightning. Biggest drawback for me to iPad 4 was lightning and new adapters, but I bit the bullet and can't wait til the next iPhone so I can dump all my 30 pin stuff (still using an iPhone 4).
If it only had a faster A5X I might agree with you, but with a brand new processor that's build on completely different architecture, new camera, WAY better graphics, less heat and lightning, it's hard to call the iPad 4 a 3.5. It was a BIG upgrade.