Apple has room to move.
The trouble with a two month delay is that this means the new product becomes available in May or June. June is when Apple has in the past released new iPhones, and they may not want two major product launches at the same time, if only because big launches are hard work for their retail staff and they may want to give them a rest in between. So a four month delay might actually be better than a two month delay.
Apple probably wants to release new iPad models closer to Christmas anyway, as it is a product that is going to be given as gifts a lot. As it is, Apple releases new iPods in September or October, but that category is in decline and it might make sense to use that release period for iPads instead. Some rumours have suggested that Apple would release an iPad 2 in the first half of this year and an iPad 3 in the second half of this year to achieve this, but if there is a product delay on the iPad 2, this becomes less possible
Franky, at the moment, Apple is streets ahead on the product. We are only just seeing the first competing tablets, and they are expensive and dramatically inferior to the Apple product for now. The existing iPad may be a year old, but likely buyers are not going to abandon it right now for competitors products. The iPhone is in more danger, because after playing catchup for several years the competition there has reached the point where it is pretty good. Competing tablets will catch up, but it is going to take a couple more years.