Is this the new iPad 5? iLounge, a highly reputable blog claims that they have seen the iPad 5. They have posted a picture of the iPad 5 and mention that it would look very different compared to the previous three models.
iLounge says -
… in portrait orientation, picture a 9.7” screen with virtually no left or right bezels, and only enough space above and below the screen to accommodate the mandatory camera and Home Button elements. Beyond that, it’s noticeably thinner, as well, which is to say the the fifth-generation iPad will be smaller in every dimension than its predecessors. As it will have the same chamfered edges and curves, calling it a “stretched iPad mini” is very close to entirely accurate, with the rendering below looking pretty close to what I’ve seen.
The picture is a rendering. iLounge predicts that the new device will be announced in October.