Ipad 2 pro...
There will be little difference between the iPad2 and this one except for Retina Display. This will be disappointing for some, but a relief for most. It will allow them to widen the price spread, and achieve more price points. Anyone who follows the Apple product model, understands that price points are a key component to how Apple makes and markets products.
Price points are more important than features and products, and they have shown a total ability to dump their most prized products, for the sole purpose of hitting price points.
A retina display will always be more expensive than the current display, even as they all go down in price. This will always be a differentiator between high range and lower range iPads. Not everyone will find this important. I will, but not everyone. Price will be more important for most. Photographers, and those that really understand the beauty of tons of pixels, will put the extra bucks down.
The key is to have the products mostly match through the price range, without the highest "suffering", or be so more capable, that it kills the rest of the range, unless you can drive the price ridiculously low (like with the phones).
The key for this, will be frame rates for games. And I believe the solution will be in rapid scaling. Which may not exist in the current A5 but may well exist in the one in THIS iPad. You essentially need fast enough scaling that frame rates will be the same between the highest iPad and the lower iPad. If you achieve that, you have it all.
Then real iPad 3 comes later. Next year, with dramatic new features to move people to upgrade.
As to when is it going to replace a laptop? Never. For content creation, there are too many functions that require a pixel level Point and Click, and typing interface. Just because there is a ton of stuff that works well with a finger based interface, doesn't mean everything does. Cripes the things don't even print except through wishes.
This isn't the end of Ipad2, it is the completion of a product line.