Wednesday is drawing near. It is the day Apple is expected to officially announce the iPad 3, the one tablet to rule them all. While we await the big announcement, M.I.C. Gadget, a Chinese blog got their hands on what is supposed to be iPad 3 parts. If it is the real deal, the iPad 3 could be a huge upgrade over the iPad 2.

We reported awhile back about the iPad 3 lack of a home button, but if everything here is right on the money then that would mean we were wrong. From the video we have seen, the iPad 3 could very well release with a home button, so if you were looking forward to a button-less iPad this time around, luck is not present. From the leaked images and the embedded video below, sitting cozy in the middle, is the home button, along with some other changes that slightly differ the device from the iPad 2.

The rumored iPad 3 casing and the iPad 2 is of the same size. However, the casing of iPad 3 is a tad thicker. A thicker casing could mean we should keep an eye out for an iPad 3 rocking a Quad Core A6 processor and a high definition touch display that would put the new device on the level of some of the top Android tablets. Interestingly enough, Apple’s smart cover fits perfectly well on the casing. So this is either the real deal or one of the best knock offs to come from China in a long while.

A closer inspection shows there should be a better front facing camera when compared to the iPad 2. The camera sensor placeholder on the device casing is clearly built to accommodate a larger sensor. We’ve been hearing rumors of an 8-megapixel camera, most likely the same that is found in the iPhone 4S.

M.I.C. Gadget went on to claim the next iPad 3 would not come jam-packed with LTE. This is because Apple is still not pleased with the battery life gains, and due to the underlying fact that not many have adopted LTE to date. The Chinese blog also indicated that pricing of the iPad 3 will be the same as the current device, and consumers should look out for 16GB to 64GB models.

Check out the iPad 3 “construction” video below:

(Reported by Vamien McKalin, Edited by Surojit Chatterjee)