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Originally Posted by io
There's no way of even knowing you have the newest one except for model number, right?
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The most obvious way to tell is what connector it uses for the charging/sync cable. If it uses the new Lightning cable, it's the iPad 4. If it uses the old 30-pin iPod cable, it's the iPad 3.
And yeah, the biggest change is the new processor, which is supposedly twice as fast. It probably won't make a big difference right now (at least not with most apps), but in another year or two when the iPad 3 is starting to feel slow and obsolete with newer apps, it'll have a bit more life to it. That being said, I can see some overall performance difference between my iPad 3 and my iPhone 5 (which also uses the new processor), so I'm assuming that a similar difference would be visible between the iPad 3 and the iPad 4.