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I would say go for it, just don't pay full price, as others have said get it at a good discount or buy a good one 2nd hand.

I did this a couple months ago, replaced my mini 1 with a 2nd hand mini 4 (32 GB cellular) from Cex. Comes with a years warranty from Cex. The bonus is that I found the Apple warranty still valid and runs until March 2018, so whoever owned it previously did not keep it long.
 
One approach could be to use the 2 as long as you can put up with it. If Apple updates it before you’re done, great. If Apple discontinues the Mini, you can reevaluate the 4 at that time. They’ll be available as refurbs for some time after discontinued.
 
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I updated my mini 4 last week and it's running smoothly. Apart from all the problems everyone is having generally with iOS11, I mean :)

Assuming you don't have an urgent, insatiable desire to upgrade I'd suggest waiting until spring and see if Apple come up with a mini 5 or mini Pro. Unless you buy direct from Apple, suppliers will have a bit of lag so if they do announce something new and you don't like it (in the same way most of us didn't like the mini 3 much) you can still get the mini 4, which is excellent for use around the house and when travelling given its weight and size. I also use mine to download photos from my Nikon D90 rather than getting people to peer at the screen on the back of the camera.
 
my gen 2 is still running strong - love the form factor.
I would get a new one if apple provides one.

It's a great travelling device; I'd like apple to include the GPS chip across the whole range so it will provide that extra mapping benefit when travelling.
 
my gen 2 is still running strong - love the form factor.
I would get a new one if apple provides one.

It's a great travelling device; I'd like apple to include the GPS chip across the whole range so it will provide that extra mapping benefit when travelling.

Chronic iPad issue - you have to spring for the cellular version to get that. I love the form factor, too. I slip it into the back flap of the case I carry my rMBP in.
 
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It's a great travelling device;
The best, I would say. It is incomprehensible how Apple chooses to ignore this aspect, given that so many people are traveling today, and focus so much on the bigger iPad's as laptop replacements. Perhaps the fact that most people have a smartphone, even if it does not match the mini's display size, and would not like to carry another device while outside, explains this stance.
 
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