Oh god I hate the "HD" word so much, it doesn't mean anything. The word "High" is relative, what do you mean "High"? Higher than what? Marketing loves these words, like "High Speed USB" followed by "Full Speed USB" and then "Super Mega Ultra Faster USB v 2.0" followed by "Much Much Much faster USB than the previous one + 9 and even faster than that times two!", etc
It's lame how High Speed USB today is actually very slow, how does that even make sense?
The iPad 3 certainly will have a much higher resolution than the official "Full HD" specification of 1080 x something pixels, so why cause confusion calling it HD? iPad 3 sounds just fine to me!