I had been using an iPad since the original iPad came out and then upgraded to 2, 3, 4 along with the Mini. But this one turned out to be the most significant upgrade ever.
It holds the same punch as the iPad Air(and the iPhone 5S for that matter) and gives all the things that were severely required.
Pros:
First things first. The RETINA Display is a stunner. It looked great on the previous iPad models but that same 2048x1536 resolution in the smaller screen is even more awesome. Truly lives up to the "Retina" moniker.
Performance wise this thing is a beast. I threw in about all the apps I have at it but couldnt get it to slow down for a single blink. Everything is snappy and fluid all throughout.
iOS 7 feels smooth and responsive.
The same awesome battery life as its predecessors. I managed to get around 9 hours in heavy usage(Games, Youtube, Movie Streaming via Plex Media Server, etc)
Cons:
Sound quality from the speakers are good but leaves you wanting a bit more. Headphones solve this problem.
While using hardware intensive apps, the back tends to get HOT sometimes.
Verdict:
If the price tag is no bar for you, then just one phrase."GO FOR IT".
I chose this over the iPad Air and am happy that I did.