the iPad 3 is more capable than the iPad 2 in graphical ability - but it can't match those abilities at the full retina resolution. As I understand it, it can do it at a resolution (I forget the figures) that gives it about double the number of pixels that the iPad 2 has - which is what Infinity Blade 2 does. The problem with N.O.V.A 3 is that the developers decided to make it at the full resolution - with four time the number of pixels - and found that meant they had to cut some effects. If they'd gone sigh iPad 2 res or even the Infini Blade 2 res then it would have been fine.
I understand this, but I would prefer a 1024x768 resolution game on a 1024x768 resolution screen, as opposed to whatever the iPad 3 is, like 9000x4*10^30.
What I would like to see is the a5x processor in a normal resolution screen. I understand it is directed toward powering the retina, but if they directed it toward app usage, you can bet there would be some delicious games out there. Though I know this probably won't ever happen.