my guess is that this kind of cash-strapped people are in the very small minority - i.e. Majority of iPad 1 owners have the extra cash (and patience to wait and avoid the crazies).
Very true. But for a buyer such as the OP, only one such cash strapped individual needs to be found. Thus my point about the best buying opportunity being last week. The patient seller is NOT the best one for a bargain hunting buyer to find....