Many people here seem split in their decision on whether to buy an iPad Mini or 4th Gen iPad. I think the reason for this could be influenced by that fact that the current 4th Gen is still just a stopgap until a redesigned 5th model next year. Same old shell as usual! It's still as heavy and awkward as the 3rd Gen. The iPad Mini whilst being "new" and having a new form factor lacks a good screen and processor, so in 4/5 months it will start to show its age already. Hopefully next years lineup will include a smaller lighter full size ipad (perhaps using the Mini form factor) and the Mini will have A6 plus a retina display. This should level out the obvious Pros and Cons to each device now...point being, there are plus and minus points to both of the current devices, but nothing definitive that would help you choose one over another:
Mini: great form factor, light, new design - thin bezel, stero speakers - BUT old chip, non retina,
iPad: Retina, speed - BUT too heavy, too thick, one speaker, same design - bezel still too thick
It's a shame we can have two equally matched products both with good points that are the same. Guess this is what having to wait on technology to match ideas feels like. Next year it would be nice for consumers to have the same product but different size to make the buying process simpler. Ie. 9.7inch iPad and iPad Mini look the same apart from screen size, A6X in one, A6 in the other. Both retina display.
This sums up the downsides of both devices well. However, nowadays it's almost always a "bad time" to buy any gadget. In fact, if Apple had a program to lease devices for around the same cost as buying + reselling, I'd sign up. Doubt they would do that, but with product refreshes happening every 6 mo. - 1 yr., you can always justify waiting for the next better set of features.
It all comes down to how much enjoyment you can get out of 1) What you currently own, 2) What is currently available, and 3) What is around the corner, and deciding which of those 3 options outweighs the others relative to the cost difference. If you're like me and plan to remain an Apple user for the foreseeable future, it's not a question anymore of if you'll upgrade, but when.
Personally, the amount of enjoyment I get out of looking forward to the latest device, buying it, and yes even selling it to afford the next item is great enough that I end up buying every iteration. I'm okay with that, because gadgets are my hobby and I don't spend a lot of money on other things. I recoup enough on resale that I can justify being an early & frequent adopter. I totally understand that a lot of people aren't able or willing to operate that way, and would rather own something for years and years. That's just me personally.
I fully agree that the next full-size iPad will probably be thinner and lighter, since that is the direction they're going with all of their products and they didn't take full advantage of the additional space afforded by the Lightning connector. I also agree that they will find a way to get a Retina display and A6X or higher chip in the Mini with the same size, cost, and battery life.
What I tend to disagree with some posters on is whether they could have done those things for the same price right now. I think holding back features to "save up" for the next upgrade is a myth and that from a business standpoint, it makes no sense for a company to cannibalize its own profits that way. The amount of money they would lose by people waiting to upgrade or going with a competitor who has better specs would offset any benefit they would get from people upgrading twice.
I think anyone who believes that Apple purposely left Retina out of the Mini to save for the next upgrade is wayyy off the mark. Do you think they like everyone making negative comments about the screen? Can you imagine how glowing the reviews would be across the board if it had Retina or an A6 processor? That would mean better sales, more revenue, and happier investors. In my mind, the only logical explanation is that for whatever reason (cost, engineering, manufacturing, etc.) they could not realistically include those features right now.
Sorry I went off on a long tangent there.