There's almost no question that the iPad Mini is a terrific device; it's got too much pedigree and money behind it to be anything else. But barring some sort of miracle from on Ive, it's also certifiably overpriced. And that's a bad sign for Apple.
At first blush, the iPad Mini has a lot to recommend it relative to the competition. Apple's managed to put a bigger display on a thinner and lighter device, which—these days, especially—is mobile computing's endgame. iOS is the most mature tablet ecosystem by a good stretch, which is worth no small something. And it comes in 4G, which much of the 7-inch competition currently lacks.