I'm looking to possibly upgrade from an itouch 4 soon. I'm mainly looking at the ipad 4. How drastic of a jump would it be game wise? And how needed will the extra power be in the near future? Would it be better or even feasible to hold off until the ipad 5?
You might want to read the ipad 4 impressions thread stickied in the ipad forum. It has a lot of good insights, and you can ask your questions there too cause there are a lot of ipad 4 users.
I would say Ipad 4 probably would be still decent until ipad 6 comes out. I have a ipad 2 and it still works pretty well---at least for now, but ipad 4 more than double a ipad 2 and almost triple a 4s. But I guess the retina resolution of big Ipad screen may lower the performance of Ipad 4. I'm not pretty sure and I would probably get myself a Ipad 4, too.