With the purported release date of Apple's third-generation iPad nearing, it's time for the rumors surrounding the device reaching their apex.

Adding to the heat, Chinese webite WeiPhone released a photo, which it claimed was of the iPad 3's logic board. But the real news could be an A5X system-on-a-chip showed on the board, suggesting the next version of the tablet won't involve a revolutionary upgrade (an A6 chip), but a more evolutionary improvement of its processor.

There is also a date code of 1146 on the SoC, indicating it was manufactured in the 46th week of last year, the week of Nov. 14-20, 2011. The photo of the logic board also showed two 16-gigabyte Hynix flash memory chips and a rectangular Apple-branded chip.

Considering that Apple's original iPad had a single-core (A4) processor and the iPad 2 featured dual-core (A5) processor, rumors were rife until now that Apple would opt for an A6 quad-core processor to power the iPad 3.

However, some analysts also predicted that the upcoming iPad would be a more limited upgrade over the iPad 2, and the latest rumor based on the A5X does correspond with that theory.

Other features that Apple iPad 3 is expected to bring along include an 8-megapixel rear-camera, a double-resolution Retina Display running at 2048 x 1536 instead of the current 1024 x 768 panel, a larger battery and 4G LTE support.

It's expected that Apple will release the new iPad at a media event on March 7.