Further, I see older versions of the iPhone on display at the apple store. Does this mean I'm potentially browsing an older version of the iPad?
To be fair, there was some overlap in the Jobs apple store days (when the Santa Rosa processor dropped on the MBP and you didn't know if you were getting the older model unless you asked), but it was never this bad. You had the iPad, then the iPad 2. iPhone 4->4S->5. I don't know how the 'Air' slots in between the regular and the Pro, and I don't know if I'm seeing an older model on display. The whole thing is very confusing.