For people like me, who are using the big iPad as a full replacement for the usage of a laptop, things look quite different. With retina, the Mini would become the better e-book reader. At the moment, I do not see one single quality - except easier transport - speaking for a Mini. The screen is just way to small for comfortable surfing or typing longer texts. And - at the moment - the resolution is suboptimal for reading e-books.
The innards are outdated, and I would be careful with investing hope into the idea of receiving software updates for the Mini 1 over a long period. The smaller overall size and lower weight of the iPad 5 will have an impact, too.
There are so many "I_am_sooo_happy_with_my_Mini"-threads - it does not take a title in psychology, to understand, what this really means: Desparately trying to feel better with having invested money into the inferior product. Isn't it a little bit mean, to mislead other people - just for feeling better with the own wrong decision?
The Mini is just a toy - but way too slow for good usage as a gaming device.
I have not made one of these "I am so Happy with my iPad Mini" topics, but I am one person who is very happy with mine. It isn't too small for heavy computing or anything like that.
First of all, it is a replacement for my laptop except for the features that any iPad cannot do, like uploading documents to a web site, since the iPad only allows attachments to be pictures.
What do I use my iPad Mini for? Casual stuff like Kindle, browsing the web, email, but I also use it for document-editing for freelance work and for keeping a database of resources for my IT job.
Is it too small? No. Not for me. I have eyes that are strained easily from having been born with crossed eyes (and had a proper surgery when I was an infant), but I have no problems using the iPad Mini for everything it can do that I don't absolutely require my laptop for. It sides on the side of my desk at work for my work database and it's perfect for that. A full sized iPad would not fit on that desk to use for that purpose. It's too big.
Also, as far as gaming is concerned, I also disagree. I have played a lot of iOS games on my iPad, and I've not had any trouble with anything, from Theatrhythm Final Fantasy to Star Wars: Knights of the Old Republic. The iPad Mini, despite having iPad 2 specs, is perfectly capable of playing games even the iPad 2 cannot, like Dues Ex: The Fall. I play games on it all the time, and I have yet to have a complaint.
I don't try to desperately make myself feel better over the investment. I had the money to either buy the Mini or a full-sized iPad when I bought it, and I had used both a full sized and mini before. I preferred the Mini, so that is what I got.
All in all, I think the iPad Mini does have merit and many people are genuinely happy with it. I am.