The Wall Street Journal is reporting that Apple's new iPad is already in production and it packs a faster processor and a front facing camera.

The new iPad should also be thinner and lighter than the original model and it will feature more memory and a faster graphics core. According to WSJ, it should feature a similar display resolution as its predecessor.

Earlier in the year many outlets reported that the iPad 2 would have an insane hi-res screen. Had they checked the spec sheet of graphics cores likely to be used in the new iPad, they would have realized that neither of them supports 2048x1536. In other words, users won't have much to be smug about.

There is still plenty of speculation about, some claim the new iPad will feature an USB port, which would be a very sensible addition. There's also talk that the new tablet will pack GSM and CDMA wireless connectivity, but this is all pure speculation folks.

More here.