you'd see I'm not asking about Live Loops.
I was not sure about this, because you mentioned them in your last sentence, I thought you wanted to know about them as well.
It is not very clear from Apple's inconsistent announcements about the hardware requirements what will work on which devices. The Music Memo app was released the same day as the new GarageBand versions and both are listed with the same hardware requirements, but the AppStore is listing different requirements than the AppStore. The only thing that is clear is that not all new features of GarageBAnd are supported on all hardware platforms.
Arturia is claiming compatibility with iPad 2 in the App Store requirements, but the press release i found quoted is rather vague and only says "latest-generation iPads,".
http://www.musicradar.com/news/tech/arturias-isem-synth-app-now-runs-as-an-audio -unit-on-your-ipad-630909
"By using Audio Unit Extensions-compatible apps like iSEM, GarageBand users can extend its sonic capabilities above and beyond those of the built-in instruments into the wonderful world of Arturia. Indeed, it appears that we are one of the first - if not the first - to support this.
"iSEM users can now easily record and multitrack their iSEM-based creations within GarageBand, adding drums, voice, guitar, and other sounds to make more complete musical arrangements, if they so wish. It's also perfectly possible to have multiple instances of iSEM running in GarageBand - at least three or four when using latest-generation iPads, which was impossible with the previous 'standalone' version of iSEM."
This level of integration is precisely what a lot of iOS musicians have been crying out for, and we look forward to testing it for ourselves.
The footnotes I quoted were meant to indicate the possible hardware limitations that Apple has documented. A part of the new capabilities for GarageBand have been build for the 3D sensor and others for the faster processores.