This will surely come as a disappointment for all these good folks who hoped that the iPad 2 will have an MP-rich camera, or at least an equal one to the Motorola XOOM's front-facer, which offers 5MP. Nevertheless, if it's indeed a 1MP one, it will allow 720p video recording.
The front-facing camera is set to support a VGA resolution, similar to what we experienced with the iPhone 4's front camcorder. Of course, all these leaks are far from official, and it's yet uncertain whether the next iPad will ship with these specs.
It's worth noting that two of the rumoured three versions of the iPad 2 are said to be codenamed "K94" and "K95" (the original iPad was internally known as K48), so if you happen to notice any document with these models on it, please, consider tipping us.
source: 9 to 5 Mac