Pretty cheap in my opinion. Same internals as iPad Air. These are official refurbished from Apple, which means basically everything is new except for the logic board inside the device.
They are indistinguishable from brand new apart from you get a plain white box that says refurbished on it rather than the branded box with pictures of the device on it.
Also I noticed there are a whole bunch of different model iPads available if you are after a different model http://www.apple.com/au/shop/browse/home/specialdeals/ipad
Lastly, there will be an Apple event overnight, which may introduce a new iPad model. These prices are still cheap and most likely won't change (much), but just giving the heads up.
New Apple products are being unveiled tomorrow at 5 am AEST (I think that's the correct time).
Don't buy anything Apple now or you'll probably regret it.