Reading on the new iPad is wonderful. The Retina display is simply spectacular. If you do a lot of reading, writing or drawing, the new iPad is a worthwhile upgrade. Digital magazines and websites look better than printed pages, and sketching with Paper or SketchBook Pro feels real.
If you decide to get a new iPad, I suggest getting AppleCare+ for iPad. $99 and it includes two accidental damage replacements for $50 each. Get the AppleCare with the new iPad or before you open the packaging; this makes it easier, because it must be purchased within 15 days and if the iPad is opened, it must be inspected by the Genius Bar at the Apple Store.