Frankly, I think it's increasingly difficult to make a compelling argument for buying the iPad 2. The iPad 2 starts at $399; the iPad mini starts at $329. Internally, every spec on the iPad mini matches or surpasses what the iPad 2 offers, and it costs less money. You sacrifice a couple inches of screen real estate, but the iPad mini released in 2012 will surely support more iOS releases than the iPad 2 first released in 2011. The forward-thinking purchase is the more powerful iPad mini--if cost is a key concern for you.

The fourth-generation iPad starts at $499. If you don't mind spending the $170 difference between the iPad mini and the fourth-generation iPad, this model is certainly worth considering: It's the fastest, most powerful iPad that Apple has made to date. Just as the iPad mini will surely outlive the iPad 2, the fourth-generation iPad's beefier internals suggest that it could outlive the iPad mini.

If instead you prefer the smaller size, easier portability, and one-handed use of the iPad mini, it may well be the better option, so long as you won't begrudge its lack of a Retina display.

You can't upgrade your iPad's storage; you buy what you buy, and you don't get to cry. My advice is consistent: Buy as much storage as you can afford. The base model of each iPad comes with 16GB; the 32GB model is available for $100 more, and the 64GB model costs $200 more. In the case of the fourth-generation iPad, the costs are $499, $599, and $699 for 16GB, 32GB, and 64GB respectively. The iPad mini versions are $329, $429, and $529.