For my Scotland friends this is my observation of the iPad 2 after using it for a couple of days..
Everyone probably know that the iPad 2 contains a dual core CPU that is 2x faster than the original iPad, but little does people know that the iPad 2 contains a GPU (Graphics Processing Unit) that is more than 15x the power of the GPU that is in the iPhone 4 and previous iPad. The new chip allows room for many graphics intensive tasks, such as gaming and the video mirroring feature (iPad 2 exclusive so far). You will notice the response time of the iPad 2 is much faster than that of the previous iPad in web browsing and app switching.
Visually, the iPad 2 is STUNNING, it is designed thinner but looks and feels even thinner than it really is. The smart case is not magic, but it does its job, holds the iPad 2 in two extremely useful orientations. When paired with a bluetooth keyboard, the smart case will hold the iPad in position for you like a versatile workstation for email, word processing etc.
The only thing that kind of needs to be worked on is the back facing camera, it is good for showing people what you are looking at in video chat, but it is not an acceptable photo quality camera. I personally do not and probably will never hold my iPad in the air for photos, but many may think otherwise.