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Most of us were expecting this, and the good news is that, like the iPad Air, it contains the A7 chip.
The bad news is that, rather than replacing the existing iPad mini, its going to sit alongside it at a higher price point when it arrives later in November. The entry-level model costs £319/$399.
It's certainly tempting when you consider the power inside, but if you want a tablet to make music on, the iPad Air is probably a more practical (and better value-for-money) option.