As an owner of an iPad 3, purchased in July the year they were released, I love it and use it every day. While upset at the very fast refresh (October, same year) I have yet to find any issues with software for the device. Obsolete? Not the 3. My only complaint with the 3 is I bought the 32 GB version and not the 64 GB version, and I knew better. Now, I consider something obsolete when it has no use. Is the iPad 1 obsolete? Definitely not, if the person who owns it still uses it. For me, I upgrade when the device can no longer receive OS updates. I sold my iPad 1 to get my iPad 3. I will sell my iPad 3 when it no longer receives an OS update. I have noticed people will sell barely a year old device just to have the latest and greatest. Is it bragging rights? Who knows. If it works for the company, and people continue to do it, who can really fault the company. For me, I plan to buy the best available I can afford, then save an extra month to get one step higher. It works for me and helps future-proof my purchases.