Taking several of these weird rumors into consideration, it seems like one of two things is going to happen with iPad this year.
Scenario 1
They refresh the iPad mini and 9.7" iPad as non-pro models. New mini gains spec parity with 9.7" model (A9X, trutone display, 256GB option, 4 speakers, front and rear cameras, etc), which is the current iPad Pro, while at the same time they take away the smart connector, but add the 4 microphones to the 9.7". They then release the new 10.5" and 12.9" models as the iPad Pro line, dropping that moniker designation from the 9.7" model. They are called iPad Mini 5 and iPad Air 3. This is based on the story about the model number identifiers 7,1-7,4 being seen in website logs - they correspond to iPad mini and 9,7" iPad model identifiers.
- 7.9" iPad mini 5 (spec parity with Air 3 below)
- 9.7" iPad Air 3 (no changes except 4 microphones and removal of smart connector)
- 10.5" iPad Pro (New form factor/design, A10X, wide gamut trutone screen, etc etc)
- 12.9" iPad Pro (Spec parity with new 10.5" model)
Scenario 2
They refresh as per above, but lift the new 7.9" mini up to the Pro moniker designation and give it a smart connector as well as everything else in scenario 1. They then keep on the old mini 4 and Air 2 as the budget devices while introducing 3 new Pro models and a tiny little upgrade to the 9.7" Pro in the microphones. They've done that before, remember the iPad mini 3???
- 7.9" iPad mini 4
- 9.7" iPad Air 2
- 7.9" iPad Pro mini (spec parity with 9.7" Pro below)
- 9.7" iPad Pro (4 microphones added not much else! Retains current specs, A9X, etc)
- 10.5" iPad Pro (New form factor/design, A10X, wide gamut trutone screen, etc etc)
- 12.9" iPad Pro (Spec parity with new 10.5" model)
As someone who is only ever going to buy a 7.9" model going forward (I have tried them all, and the mini 4 is by far the most satisfying device to use IMHO - NOT saying it should be for everyone, just my personal favorite) I would be fine with both scenarios, as I don't really care what moniker the next 7.9" iPad gets, just that it gets updated, which I am pretty confident of given that model ID story that came out earlier. Scenario 1 is much cleaner and requires less SKU's to be produced and maintained, but I'm thinking scenario 2 is much more likely, just because then the mini 4 and Air 2 can be the budget models and there is a clearer defining scheme where they can charge more for the updated models while charging less for the budget models - i.e. having mini 4 and Air 2 remain in scenario 1 would probably result in more sales of the budget models, whereas the naming scheme in scenario 2 would probably push more consumers up to the "Pro" models.