It was stated from the get go what the specs were on the iPad 2. The specs are posted on the iPad 2 site at Apple. They are the same as the iPad Touch, so its likely the same cameras. Cheap cameras, but high end photography is not needed for FaceTime and I really doubt the usefulness of taking pictures with the iPad. Expect the cameras to get better over the future generations, but not in any speedy fashion. The RAM is reported to be 512, but also goes from LPDDR1 to LPDDR2. This means that it not only double the RAM, but also faster. The problem with tech specs is that few people know what they mean. My take is that the report means that Apple can do with 512MB what others are doing with 1GB slower processors. It is like Ford pickups, you can get an F150 with a 5L V8, or pay more and get it with the 3.5L V6. At first glance, the V8 would be the better choice, but the V6 is twin turboed. It puts out the same horsepower, more torque at low end, and gets better gas mileage.