Steve Jobs is on leave right now, for an unspecified amount of time. That leaves many wondering how the iPad 2 will be announced and presented. If a report that comes from macotakara.jp (via Google Translate), which is a blog that's been credited as being pretty accurate with rumors in the past, the upcoming iPad 2 announcement will happen in March.
The wording has many saying that it may be a "small event" but small is hard to define at this point. Smaller than usual? As it is, Apple events are always small, as far as location and attendees are concerned. They are very selective about who gets an invite. In that sense, the events have always been small. The media buzz that surrounds a new Apple device is what makes them seem huge.
We will know for sure when it happens. For now, just be prepared for the rumor and speculation publicity machine to keep mobing forward.
It's also worth pointing out that this is contrary to the rumors we heard last week. Regardless, at this point, it's best to wait until an official announcment if you have been looking into buying a new iPad.