I am currently struggling with this same question.
Context i have my 16" Macbook pro M1 Max to match my mac studio which runs my studio desk.
I am considering a new iPad, as i sold my others (iPad air and iPad pro 2018) and 2021 Ipad Pro with MKB and pencil )
One will be for my wife, and she enjoys the pencil, and consuming media, and also working from how, the type of work, an air is perfectly fine. perfectly fine on my late 2018 ipad pro and pencil, 64gb storage is becoming an issue now, evem with 2.23 TB of family storage.
However for myself, once i had the laptop the Ipad pro became redundant to me.
However there has been a surge of recent gear i purchased for auido, some are IOS apps for driving Amps, and some pedals, anything that can be done on an Ipad air.
The achilles heel, is the introduction of Logic pro and i run a lot of plug ins, some stand alone, some with in Logic.
I want to jump on the sales but the 1TB models are all sold out as i need the capacity, even with cloud, and i feel better with 16gb ram. everything available is 512gb and 8 at the moment.
My use case, would be typical iPad stuff, media consumption, controlling my amps, using amplitude 5 max and Tonex Max, and logic pro sometimes FCP, supported by a plug audio interface, it can serve as my travel device too if some of the plug ins become available to IOS. Amplitude 5 and Tonex already are.
My biggest concerns are RAM, hopefully an extra port, i hate hubs, they rarely work and i rely on Cal Digit Ts3 and TS4 at the moment at my desk, on the road i need the a few USB-C hopefully USB A - USB C but not a deal breaker.
as well as the new intergration with the headset, assuming its coming. My minimum hopeful specs being 1-2tb and 16gb ram, i maybe way off in how they have designed LGPX to be efficient n iPadOS.
12.9 is fine for me as a size, and doubt i will GAS for the rumoured 14. Its this whole Ipad ultra rumours, that have me hesitating.
I have the luxury of waiting till released, i do not have the luxury of waiting on sales.
any advice to simply wait for wats coming, or take the benefit of the sales ATM.