There has been talk that they'll drop the 16GB model and move to 32/64/128 (with the 32GB starting at $499). I would LOVE to be wrong on this, but I don't see it happening. My rationale: *It would drive the majority of buyers who are still happy with 32GB to buy their base model for $499. I just sold my 32GB iPad 3 and I am planning to pick up a 32GB iPad 5. My storage needs haven't changed, so I'm going to end up spending either $499 or $599. Why would Apple leave $100 on the table? *It would so rapidly devalue all previous iPad models. I know, Apple doesn't care about obsoleting old tech, but usually it's with iterative spec upgrades. A 32GB base iPad would immediately slash the value of prior models by $100 or more, including those who just purchased an iPad 4 the week before. Hopefully I'm wrong - they need to bump up the storage specs across the board at some point. It's just hard to see how/why they would do it now.