Various reports say Apple will not call it the iPad 3, but rather: the iPad HD, presumably to signify the improved screen resolution. The iPad has been a smash success for Apple, paving the way for a new class of "PC" products that are in some ways better than laptops (at least per this CNET article.)
Indeed, Apple is cleaning its competitors digital clocks with the iPad, snagging 59 percent of the market for tablets (that sounds low to me), according to this CNN article.
Some iPad updates are expected to include a faster processor, for improved speed, fourth-generation wireless network coverage on AT&T and Verizon (aka "LTE"), and Siri capability. Siri is Apple's chatty virtual assistant. It's unclear how much the physical body of the iPad will change, if at all.
The price points are expected to be the same as past iPads, starting at $499.
Stay tuned here for updates on the iPad launch later today.
Oh, and I almost forgot: Apple is expected to announced a new Apple TV box, for $99. This little box brings some of the Internet to your TV, including videos through iTunes, Netflix and Youtube Of course, there are tons of reports out there about Apple building an actual TV set, slated for later this year. But we'll see about that.