You seem to forget. The iPad is an Internet tablet. It's not a laptop, it's not a desktop.
More RAM is surely wanted, why not stick in 512MB like the iPhone 4, or maybe even 1GB like Apple's competitor HTC.
More storage? Really? 64GB is not enough? I have a 32GB iPod touch, and even with my full music collection, over 200 apps, and over 2,000 photos, is only halfway full. IMHO, unless the iPad is your only idevice, then you should either keep your music in the iPhone/iPod or compress the music to 128kbps.
Make the new iPad lighter, more ram, and add the two cameras with a retina display, and you will make the iPad the most killer tablet ever.
Sure the iPad is large, and may be a bit akward to hold up at 90 degrees, but it isn't enough to say let's not put one at all. Front facing will definitely work, rear facing would be awesome. Make it more than 5MP, make it 8MP and shoot video in native 720p. Then make an expanded iMovie with features similar to the one in iMovie '11 and you have me sold.
Enough with my ranting, but I'll close on this. If you have an iPad, and you don't need cameras on your iPad, then DON'T upgrade. Or if you do upgrade for the front facing camera, then just don't use the rear one.