What to look for when buying a new iPad?

When shopping for a new iPad, what key factors should I consider to ensure I make an informed purchase? Are there specific features that set certain models apart from others? How important is the storage capacity, processor speed, and display quality in my decision-making process? Additionally, should I weigh the benefits of owning the latest generation versus a more affordable previous-generation model? And, lastly, what about the iPad's compatibility with accessories and apps – how crucial is this aspect when selecting the right tablet for my needs?