I am buying an iPad 5 64Gb for a few reasons.
-Films (I have a lot of digital copies from Blu Rays on my iTunes account)
-Browsing
But mostly gaming. Earlier this year I was going to buy a PS Vita but found that only 2 or 3 games appeal to me (LBP, and maybe NFS and Assassins Creed/Killzone). I found the games that are already out on iPad beat the PS Vita (games like Minecraft PE, Deus Ex: The Fall, XCOM Enemy Unknown, CoD Strike Team, Modern Combat, Dead Trigger, Asphalt 8, Dead Space, GTA III, GTA Vice City...).
Upcoming games I am looking forward to for iPad are Modern Combat 5 (Q1 2014), a Deus Ex game that pushes the iPad 5 (Q2-3 2014), Dead Trigger 2 (a matter of days now)...
The actual performance of an iPhone 5S graphically is 10X more than that of the PS Vita (76.8Gflops for the 5S compared to 7Gflops on the Vita). If the iPad 5 gets the same jump as the iPhone 5S got from the iPhone 5; then the iPad 5 will be outputting at around 205Gflops (which is very likely with the G6630 GPU which the iPad 5 will get). To put that to comparison; a PS3's GPU outputs at around 174Gflops meaning the iPad 5 will overtake the PS3's GPU (and an Xbox 360's GPU is only 155Gflops)
I know that the iPad 5's A7X will not be as powerful as the PS3's 8 core 128bit/64bit processor (something like that) but games like Asphalt 8 are as near as dammit console quality at least in terms of graphics. And that game was made for last gen devices like the iPad 4 (76.8Gflops) and iPhone 5 (28.8Gflops). So just imagine what the iPad 5 could do when the GPU is actually greater than a PS3!
"Touch screen controls are crap!!!" I hear you say. Well I have found that playing any touch based game to work just great when first played for 20 minutes. If you give just a few minutes; you grow to the controls (well, customize them too) and they work just as well. But for some games; touch based controls just don't cut it and that is where iOS game controllers kick in. There is 3 different types of controller layouts, a form fitting controller without analogue sticks, a form fitting one with sticks, and a wireless one just like an Xbox controller. I am expecting a little part of the October Apple Event to show these of with the iPad 5's new power.