Sources: iPad 2 lands in thinner body with spec bump and cameras, SD slot and higher resolution display are out -- Engadget
Does that help at all? Looks like the iPad2 will be a nominal update. Nothing revolutionary to see there. If you like the original iPad, then the iPad2 will be slightly faster, slightly thinner, probably a little bit better battery life, a camera or two, etc. It's a decent refresh, but, it's still just an iPad. Don't get me wrong, I seriously looked at one when they came out and was really itching to get one. I've wanted a tablet for many many years and the iPad was the first real serious attempt at it. (I realize tablets existed before the iPad but generally they were laptops in a tablet form factor and as such fail miserably). The iPad really is a "big iPhone" and for a lot of tasks there's nothing wrong with that. The majority of people are plenty happy with that.
As for me, I'm SOOO glad I waited. The Xoom is amazing as is, but, something that people REALLY need to remember. This is the initial release of a new tablet and tablet OS. There's going to be speed bumps. iPad wasn't even CLOSE to flawless at launch, either. Over time, it will improve just as the iPad has. The hardware is remarkable and will scale pretty well over time. People are just now going to start thinking about what a honeycomb tablet can do and then they'll write those awesome apps. We're called early adopters for a reason. We want to see that evolution happen in front of us. A year from now, the google experience tablet will be quite an amazing thing I think. Allow it to grow.

For me, Xoom all the way.