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Depends what you are using your iPad for and if you have the money. If you have the money I'd go with 2nd gen. If you are only going to web browse and not play many games and your a bit strapped for cash go with the 1st
Well, it's not a money thing. But since I'll mostly just browse the web with it, I wondered if I might as well save $150 and go with the refurb iPad 1.
 
but if you go for the iPad 1, you will miss out on some new features on iOS5 when it's released later in the year...

Speculations should not be presented as facts. Besides, any new features not available ob iPad 1 would probably be based on the new hardware. So if you don't need a camera, what difference does it make if iOS 5 has new features that take advantage of it?
 
I knowna few people with the iPad 2 and people who work at the apple store who told me the iPad 2 is faster but primarily when it comes to games and currently there isn't much on the market to help utilize the speeds on them.

YET. Remember how many awesome games there were for ipad 1 when it first came out? Not very many. This is the new standard and developers will develop based on the latest platform. When the iphone 3GS came out, there was an introduction of apps that the first 2 couldn't run properly. Iphone 4 showed this again. Not that you have to chuck out your first gen, it is a great product, but is now no longer the standard.

I foresee in maybe 2 years, the first gen ipad will start to become "too old/slow" for apps released at the time. Newer models will have higher res screens and maybe a whole new chipset architecture. Once again, no reason to call it obsolete or anything right now, but with anything electronic, isn't this the natural progression?
 
Such as? (Anyone have a link?)

we don't know for certain yet, gotta wait for the announcement

Speculations should not be presented as facts. Besides, any new features not available ob iPad 1 would probably be based on the new hardware. So if you don't need a camera, what difference does it make if iOS 5 has new features that take advantage of it?

with new iOS software there is stuff only available on the newer devices, it's pretty much a fact as there is proven history for it.....
 
I notice speed gains across the board. Especially good is having fluid UI animations again.

Agree with this. Spent two weeks with iPad 2 (had to return them both) and now have an iPad 1. As much as I hate it (will likely have to dive back into trying to find an iPad 2 with a good screen) the whole experience on the iPad 2 is faster. Yes, this is completely subjective but after using the 2 (my first iPad) and going to the 1 I am wanting the 2 back. Web, apps, games, screen animations, etc all better/faster/more fluid IMO on the 2.
 
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