Apple has announced the new Battery replacement service for the iPad, that is actually more of an iPad swap.

What is iPad Battery Replacement Service?
If your iPad requires service due to the battery’s diminished ability to hold an electrical charge, Apple will replace your iPad for a service fee.

Note: Your iPad is not eligible for Battery Replacement Service if the product has been damaged, for example, as result of an accident, liquid contact, disassembly, unauthorized service or unauthorized modifications, or if the product is not operating correctly as a result of a component failure. Please review Apple's Repair Terms and Conditions for further details.

How much does it cost?
The service costs $99, plus $6.95 shipping. The total cost is $105.95 per unit.
All fees are in U.S. dollars and are subject to local tax.

How do I arrange iPad Battery Replacement Service?
Battery replacement service may be arranged via your local Apple Retail Store or Apple Authorized Service Provider, or you can contact Apple Technical Support. Please do not send any accessories with your iPad.

Will the data on my iPad be preserved?
No. You will receive a replacement iPad that will not contain any of your personal data. Before you submit your iPad for service, it is important to sync your iPad with iTunes to back up your contacts, calendars, email account settings, bookmarks, apps, etc. Apple is not responsible for the loss of information when servicing your iPad.

How long will it take to receive my replacement iPad?
If you arrange service by calling Apple Technical Support, you can expect service to be completed within approximately one week from the time you send your iPad to Apple.

For more information, visit: Apple - Support - Battery Replacement Service - iPad

Does not say a NEW iPad