Is an iPad mini on the way?

AllThingsD is reporting that Apple's rumored 'iPad mini' will be announced on Oct. 23. 

Any further details are speculative at this point, including what the potential new device will look like, although a 7.85-inch display (versus the iPad 3rd gen's 9.7-inch screen) has been widely circulated on the Internet.

Is smaller better? Yesterday Samsung confirmed reports of a forthcoming Galaxy S III mini, a smaller 4-inch display version of its popular Galaxy S III smarthphone. Would you purchase a smaller version of the iPad?