John Gruber, and many others have suggested various names of the upcoming iPad release, just in time for the holidays:
iPad Mini, iPad Air, etc.
My suggestion: iPad Nano.
The ‘Air’ takes it’s naming convention from Apple’s laptop line. The ‘Mini’ name comes from the desktop, my suggestions derives from the iPod naming convention established with the mainstream that’s far away from the Mac world in many ways. I’m not alone in this thinking apparently.