Critics doubt the release will come so soon, as Apple tends to stick by a yearly update schedule, in which case the new iPad would arrive in April, 2011. But considering the release of Android tablets, perhaps Apple will make an exception in order to remain competitive.
Since Apple's announcement of the refreshed iPod Touch, users might be eagerly awaiting similar enhancements to the iPad. Steve Jobs has also announced that the iPad will receive hardware improvements to offer multitasking, file-sharing, and HDR photos. Combining these new features with FaceTime capability will make the iPad a more viable business device. With corporations beginning to allow iPhones as corporate email devices, the revised iPad could also gain a corporate following.
There's certainly no doubt that the iPad will get a front-facing camera eventually, it's just a logical progression, but time will tell if we can expect it this holiday season.
source: Yahoo! News