There's a lot of speculation that the price could be as low as $249 or even $199, but I don't buy it. It reminds me of the speculation prior to the iPhone 4s debut that Apple would also release a low price redesigned iPhone 4 for the prepaid market. Didn't happen. Instead, they kept the old hardware and dropped the price $100.
I think the same will happen here. The iPad mini will essentially recycle the old hardware (same dpi screen, old processor, old graphics) and be $100 cheaper. $299 16GB.
^exactly what I thought as I voted $299 above.
FNM ftw!