iPad Mini vs. iPad 2/3rd gen. Sick of reading reviews, need community input!

Pretty generic question...I know.

There seems to be a grey area when it comes to the iPad mini, caught in iOS no man's land. What type of usage is the iPad mini best for? Worst for? How does it compare to an iPad 2/3rd gen. Pros/cons, $ considerations, etc, all input encouraged. Thanks.