I was on the phone today with an Apple rep about an entirely different matter and inquired about the current Smart Cover and it's compatibility with the new iPad. I have read somewhere recently, maybe in this forum, that there were issues with the current Smart Cover and it working with the new iPad. Something about polarity of the magnets in the new iPad being reversed compared to the iPad 2. The rep told me there is only one Smart Cover being sold and that it works with both the iPad 2 and the new iPad. She also told me to call Apple if I have problems with one and they would correct the issue.