Yes, its Official name is “The new iPad” not iPad 3. And it does not make difference in looks. It has powerful processor and better camera, better display. Here is complete detailed comparison, side by side with all aspects in mind.
Major Key Difference:
# Powerful A5X Processor
# Retina Display for iPad for the First time.
# 2048-by-1536-pixel resolution at 264 pixels per inch (ppi) comparing to iPad 2’s 1024-by-768-pixel resolution at 132 pixels per inch (ppi)
# 5-Mega Pixel iSight Camera
# 1080p video recording
# 4G LTE support
# Bluetooth 4.0 technology
# iPad 2 Price dropped to $399 for 16GB WiFi only model.