If you didn’t realise a new iPad was coming out and went ahead and purchased a first gen iPad in the last few days, you will soon be eligible for a refund of $100, £100 or 100 depending on what region you purchased it in.
The refund period is believed to cover the last 2 weeks up till yesterday when the priced dropped by £100 on each model in the UK. To get the refund you need to contact the store where you purchased the iPad from. If you ordered online, you need to call Apple to claim the refund.
Although Apple is not obligated to provide refunds when a new product launches, they do take the side of the customer it seems in that they do allow refunds to happen. It certainly will keep customers happy (or happier depending on how much they want the iPad 2 now).
Quick update: If you haven’t opened the iPad, you can return if for a full refund within 14 days of receiving it. If opened, it can be returned but a restocking fee applies. Source
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