Smart Cover Issues? This Might Be Why...

"Many customers bought a new iPad last weekend, and some found that Apple's Smart Cover doesn't work with certain previously Smart Cover-compatible cases. Mark of Mark's Hangout has discovered why, and he's posted a detailed explanation."

You can read the detailed explanation here, but basically it is an issue with some older smart covers and the sensor placement. Alignment must be spot on or they don't work, and those older smart covers were made with the magnet facing either way, which doesn't cut it on the new ones. No word yet from Apple, so the only solution now appears to sell your old smart cover with your old iPad and upgrade. Or just upgrade to a newer smart cover.