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Apple will just keep taking orders and ship when they get the stock in to fill the order.
There will be no cut off for a preorder until the day its released, then its regular orders.
 
They'll continue to take orders from now until they cease production of the iPad. What will change is the delivery date. As the orders deplete the expected inventory, they'll be adjusting the delivery date on orders, pushing them back further as more orders hit the pipeline.

That's kind of why people are anxious to get their order in the queue early, a better chance of seeing the device on the april 3
 
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