Anyone that responds to your specific questions is purely speculating. They are still selling the first gen to the point where they are backordered, so I don't see the second generation on the line anytime soon.
Bottom line, if you wait for the "newest model" of every piece of tech, you'd still be using cans and strings.
And don't listen to anyone tell you what specifically is going to be in the next model, how much, or when, because they simply do not know.
Usually the next generation on these type items from Apple. On some items it may be more, but rarely less. I would expect that they will come out with the next generation in late February to early April. I also doubt that there will be much change other than adding a few things they left out of the first model to have an easy upgrade path. They can add a camera, RAM, and gyroscope with almost no problems. Other items like a higher resolution screen will be just opening up a different box on the assembly line.
I would say in about a 1yr you should here of a next gen ipad, thats my educated guess.. I wonder how many ipad we will sell on ebay when the next gen comes out??
I also think google will have a tablet b4 then.. as well as MS.. as well as a lot of companyies from Chine making spin offs for half the money.
in 5 yrs I think you will be able to get a decent tablet for 75 bucks, wow..
If you will have enough money to get one in July, then get one in July! Because of continual advances in technology, there will probably never be an "Ultimate iPad" with all of the features that everyone desires. And then you throw marketing into this mix and you have one very dynamic product.
The bottom line is that while you wait for the "new and improved" iPad to come along with features that may or may not even be of interest to you, I will be enjoying my iPad because I decided not to wait!