For better or worse, Apple has decided to sweep aside logic and numerical conventions and name the successor of the iPad 3 as "New iPad".
The move brings the iPad in line with the rest of the Apple range. The MacBook (Air & Pro), the Mac Pro, the iMac, the Apple TV and the various iPod devices never carried numerical suffixes.
Only the iPhone managed to escape this inextricable logic but we could well see the followup to the iPhone 4S called the "New iPhone".
That said, the move is going to make life more difficult for prospective customers given that it makes keeping track of the newest models more difficult leaving users to refer to them based on their year of release (2012) or their generation (4G or 5G).
There could well be another reason for Apple to embrace that move and it may have to do with Search Engine Marketing and Optimisation.
Many websites try to take advantage of the pre-launch period before any popular Apple product (iPad, iPhone) and game search engines like Google. Giving every new iPad the same name means that Apple stay on top of SERPS.
You can read through our liveblog of the event, one which lasted nearly 90 minutes and also saw the launch of a new Apple TV and the iPhoto App plus a number of major updates.