Going to go with yes.
March is always the iPad's release, the only reason why Apple launched the iPad 4 in Oct was because it would have been dumb for the iPad Mini to have better specs than the iPad 3. Apple also needed to get the iPad Mini into the holiday season.
Come March, it will be the actual iPad event. The iPad 5 will be announced with iPhone 5 and iPad Mini like design, thinner and lighter, etc.
The iPad Mini with a retina display will also be announced and will take the place of the outdated iPad 2. Base model of 16GB Wi-Fi iPad 2 was $399 so the iPad Mini will be priced starting with that.
This would also be great for Apple to offer new updates to compete with Microsoft's Surface with Windows 8 Pro (going to be released in Jan) as well as an updated Nexus 7 (rumored for Q1).
iPad 3 owners that didn't upgrade will also be happy.