I guarantee they're going to sell at least one.
I've been holding off buying an iPad for three product generations, just hoping and waiting for exactly this product.
My only fear is - if it ends up being too low-end, I'll have to rethink things. I'm really hoping for a smaller iPad that still has all the functionality of its larger sibling. If there's a 3G version with 32 or 64 GB of memory, I'll be pre-ordering on day one. On the other hand if it's only available with 8 gigs of RAM - then it's going to be too crippled a device for me personally (no, I'm not speaking for all buyers everywhere). If it's somewhere in between... then I'll have to weigh the pluses and minuses.
Enjoy your new iPad!
Personally, I don't think you have a thing to worry about. If Apple won't sell an 8GB iPhone, they aren't going to sell an 8GB tablet which is way more about content consumption than a phone ever would be. I'm betting 16GB and 32GB models that have black/white and wi-fi/3G variants. Obviously, no retina.
I think they'll keep 64GB/ LTE/ Retina for "The New iPad" 9.7" models to keep people interested on the high end.
On pricing, my thinking is that they won't compete with the Nexus 7 at the $199 price because the N7 is only 8GB at that price. I think they'll probably come in and compete with the 16GB Nexus 7 at the same $249 price, but they'll really make a little bit of a noise about 8GB just not being enough space to really be usable. There'll be charts showing how many movies, music, books, photos etc at the 8GB level and on the 16GB level so that it's obvious that while the Nexus 7 has a nice price, it's really not great for content.
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I've owned every one of the iPads ... a 3G iPad 1... a Wi-fi iPad 2... and a LTE iPad 3. Personally, the latest is the greatest. These things hold a nice resell value and I had no trouble selling the first couple for great prices. I'd sell about 3 weeks before new ones were going to be announced and get about 75% of my investment on each on. I on the fence about selling the iPad 3 after just a year. Even though iPad 4 will come out in early '13, I think I'll hold on to mine and get iPad 5. I bought AppleCare Plus on it so I think I'll hold on to it.
That being said, I think I'll be getting a iPad Air (or mini)... or whatever they end up calling it!