Now that it is confirmed that the new iPad had double the RAM, 1GB, do you care to comment on how that is likely to affect the speed of PhotoRaw? Can you say roughly what the maximum raw file size is before virtual memory is needed (a) with the 1/2 GB RAM of the iPad 2, and (b) with the 1GB RAM of the new iPad? Or does that depend on too many other factors?
Well, no question PhotoRaw will be quicker under most circumstances. The new iPad also also had quad-core graphics, which helps PhotoRaw some, although not nearly as much as quad-core processors would have. I say "under most circumstances" because if you have really small files, you might not notice much difference. But with the kind of files that any modern DSLR produces, there should be a significant uptick.
At what point virtual memory kicks in depends very much on what else is running on your iPad at the time. When you switch apps, the apps you switch from continues to be active, and can, depending on how its written, continue to to use substantial amounts of memory. This is especially the case for apps that have communication functions. Unfortunately, given that a lot off apps communicate with Facebook, Twitter, etc, etc, that can mean that a LOT of apps are still actively using iPad memory at any given point. iOS itself can also can use a lot of memory for messaging, etc. If there really isn't anything else in memory, then an iPad 2 can import 20-25 MPixel files without swapping to flash. Buts its very, very rare that there isn't anything else in memory. The new iPad could probably do 40 MPixel plus.