Does iPhoto run equally well on iPad 2 and iPad 3?

[zub3qin]

Arstechnica and others are reporting that the extra RAM in the iPad 3 is almost entirely for the display.
Thus apps don't run any better, smoother or faster than the iPad 2.

So has anyone seen a side by side of iPhoto on iPad 2 and iPad 3?
Do you lose anything at all (besides the retina display) by running it on iPad 2?

Getting a refurb iPad 2 is $150 cheaper and if you don't really care about the retina display, camera, LTE ...... is there a reason to get the 3?