The only iOS device that comes close is the iPhone 5, which also features an A6 chip, albeit one that's clocked slightly slower at 1.3GHz. Compared to the iPad 3, the iPad 4 is more than twice as fast, just as Apple claims.
I have the iPad 3 here. It works fine.
The newer versions are bound to be a lot faster than what came before, but that doesn't make them suddenly crappy either.
(especially since I got mine for free)
Don't part with your illusions. When they are gone you may still exist, but you have ceased to live.
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