Chinese media outlet Apple Daily claims it is.
Earlier today, the site released a photograph it claims is the first authentic image of the iPad 3. The photograph shows a slightly modified back bezel with a more pronounced curve, and a slightly bigger camera lens.
If true--given the frenzied feed of iPad 3 rumors, it's no guarantee--both changes may mean that iPad 2 cases won't work with this new release.
Apple Daily did not release any photos of the front of the device.
A spate of rumors indicate that Apple intends to officially announce the iPad 3 in early March. Other reports appear to have confirmed the presence of a 2048 x 1536 display as well as a quad-core ARM-based processor.
For a full roster of what features are most and least likely to appear in the iPad 3, check out TabTimes' Seven iPad 3 rumors that are probably true--and three that definitely aren't.