UPDATE: Check out our new iPad review
What does this mean?
Sure, 1GB of RAM does not sound particularly impressive on its own, but with it doubling in size over the iPad 2 it signals that a significant upgrade may be on its way.
The additional memory in the iPad 3 / iPad HD could see it house a quad-core processor, HD retina display and possibly run console quality games.
We are just hours away from Tim Cook taking to the stage to unveil Apple's next generation iPad and finding out what the iPad 3 / iPad HD will deliver. Stay tuned to our Live Blog: iPad 3 / iPad HD launch event for live news from the conference.