Hard for me to believe that people will want to buy a used, out of warranty iPad with half the ram and half the cores of the new model for ~$100 less. In fact, the apple certified refurb with a new battery, shell and 1 year warranty is already $429.
Would be interesting to know where it will end up and how much it will then be sold for in turn.
Uh, actually, I hadn't seriously contemplated this until now. Hmm. Come to think of it, the major hurdle is probably getting this scheme past my SO. :)