Newer iPad 2's feature more efficient processor, 15-30% better battery life
You have to hand it to Apple. When they released the new iPad , they didn't just lower the price of the iPad 2 16GB by $100, they actually continued improving last year's popular tablet.
Reports are stating that some of the newer iPad 2's are sporting a redesigned 32nm (nanometer) A5 processor that is also more efficient and gives 15-30% more battery life.
Which is which? The newer iPad 2 bears the identifier "iPad2,4"
This newer A5 chip is also present in the recent AppleTV while the new iPad still uses a 45 nm processor (it does have far more powerful graphics). Anandtech.com took apart one of these newer units, subjected it to multiple tests and came to the conclusion that they are indeed more frugal.
How do you make sure you get one of the newer models, well that's the tough part. As MacRumors states,"Unfortunately, Anandtech notes that there appears to be no way for customers to ensure that they receive one of these revised iPad 2 models for their $399 purchase, as there are still a significant number of the original iPad 2 models in circulation and they can not be distinguished based without opening the box and turning on the device."
Sources: Anandtech via Mac Rumors