Refreshed internals, lower price point possible.
iTunes Movie Trailers App Updated for iPad Retina Display
Here's a screen capture from Pixar's upcoming movie Brave does show a lot of detail, though it's hard to say exactly which resolution Apple is streaming.
Screenshot from Brave trailer. Click for full size.
The app works on both Wi-Fi and LTE, though if you use LTE, you may find yourself using all of your LTE bandwidth allotment rather quickly. [Direct Link]