The Apple rumor mill has spun so far out of control that I'm preparing myself for a complete fanboy meltdown soon. Especially if the latest rumors turn out to be true. Several sources (mostly unreliable) are reporting that the iPhone 5 and iPad 3 won't be available until 2012.
The most realistic sounding report, pertaining to A6 processors, comes from the Taiwan Economic News. The Taiwan Semiconductor Manufacturing Co. is purportedly testing the next-generation processor, and it won't be completed until early 2012. If the TEN is correct, and assuming the iPad 3 will run the A6, this means the iPad 3 won't be available until the middle of 2012.
Other less reliable rumors claim that Apple will release all their next-generation devices in March of 2012. Various sources have reported that Apple will announce a new affordable iPhone in September, and launch the iPhone 5 and iPad 3 in 2012. This is somewhat believable since many believe Apple plans to tap into the mid-range mobile phone market this year. Why not release a cheaper iPhone for the holidays, and draw out the wait for the iPhone 5?