I think it's safe to say that the iPad Air was to the iPad 1 what the iPad Air 2 is to the iPad 2. But what about the upcoming iPad Air 3? I don't think that there will be a resolution increase, especially considering the 264 PPI for the iPad Pro.
So instead of the iPad Air 3 being the next iPad 3, I believe that it will have the same design as the iPad Air 2 but with an A9 chip (with a PowerVR Series 7 GPU and LPDDR4 RAM), 32GB of base storage, and an updated FaceTime camera. In other words, a pretty similar upgrade like the iPad 4 was to the iPad 3.
I also wouldn't be surprised if the iPad Mini 4 has these same specs, but at $400. I also feel that force-touch will have to wait another year, much like Touch ID. After all, we haven't heard anything about force-touch on iPad yet.
So instead of the iPad Air 3 being the next iPad 3, I believe that it will have the same design as the iPad Air 2 but with an A9 chip (with a PowerVR Series 7 GPU and LPDDR4 RAM), 32GB of base storage, and an updated FaceTime camera. In other words, a pretty similar upgrade like the iPad 4 was to the iPad 3.
I also wouldn't be surprised if the iPad Mini 4 has these same specs, but at $400. I also feel that force-touch will have to wait another year, much like Touch ID. After all, we haven't heard anything about force-touch on iPad yet.