Now it starts. The screen format grief. As an App producer, this is our horror as the calls and emails start coming in that "Your App only shows in the top left quarter of my New iPad screen". So no, there is no automatic backwards compatibility, all the 500,000 Apps need to be reformatted. Expect 6 months of screen format "issues".
This grief and customer dissatisfaction could have been avoided had Apple offered real paying developers a chance to acquire an New iPad for pre-release development. We all would have done that, paying full retail. Did Apple forget that Apps are why people buy the hardware?