I'll be technologically depressed for a couple days if they actually do upgrade the thing right now. I've bought every iPad on day one and have been very satisfied with the new iPad, but the one thing I felt it's been lacking is a better processor. It's actually gotten more noticeable as more apps update with retina graphics. I'd totally be game to upgrade to this again come March, even if all they did was bump up the processor, but if it comes out this month, I'd be worried that I'd be caught in the same bind again come March if they do a more expansive redesign on the normal schedule.
I justify buying every year because the sooner you sell, the better the resale value, and I then also get a new warranty and can thus skip AppleCare, so that makes up some of my loss when I go to sell it and I always have the latest and greatest without having to worry about it malfunctioning. The yearly cycle makes it easy for me to do this without feeling like I'm going to get burnt. So, as much as I really do want an improved processor, I hope they're saving it for March or in some way signal that there will not be an update again in March.
What is the best way to sell your device? Are you using the Apple recycle program? -- I imagine its all a matter of timing as well. Hitting the sweet spot right before a new device is released huh?