My take on how the pricing is going to go:
Firstly, cut off selling the iPad 2 for $399. So instead of the current iPad and older iPad, it's going to be the iPad and iPad mini for sale from now on. The iPad will always be better, specs-wise, than iPad mini.
Start iPad mini at $399 for 16gbs, $499 for 32gbs, and $599 for 64gbs. LTE iPad mini's will be available too. I'm not sure about the colors but I'm going to garner that they'll be in black/slate and white/silver, just to match with the just released iPhone 5. Or they might go with the colorful route they took with the iPods, but I think the former is more likely.
Of course this is purely conjecture. Just my two cents