Year: 2012

We are now just 24 hours away from Apple's October 23 media event, where the Cupertino company is expected to do something it hasn't done since January 27, 2010: unveil a new iOS device. Sure, we've seen updated iPhones and iPods over the years. But the last time we saw an all-new mobile product from Apple, Steve Jobs was hoisting it on stage.

That should, however, change this week, when Apple introduces the long-rumored "iPad mini." The scaled-down tablet has been the subject of speculation and gossip for more than two years now. And if insider reports and part leaks hold true, it looks like the mythical slate is finally going to materialize in San Jose's California Theatre tomorrow.

If this all sounds like a big deal, that's because it is. With the iPad mini's pricing said to be somewhere around $300, and its screen size between 7 and 8-inches, Apple's wading into an already well-established budget tablet pool that is currently dominated by the likes of Amazon, which just introduced a slew of new Kindle Fires, and Google.

Even with the tough competition, though, analysts and pundits alike are betting on Apple to sell millions of these bite-sized iPads — especially with the holidays around the corner. But does the Cupertino company's new tablet have what it takes to live up to the high expectations? You tell us. Here's everything we know right now about the iPad mini ...