Apple iPad A4 Chip Designed by PA Semi Team... or Not?

Venture Beat claims a "very trusted" source has informed them that Apple's PA Semi team might not have been behind the new iPad's Apple A4 chipset:
PA Semi didn’t do the A4. It was the existing VLSI team. Apple has made custom chips for years like the Northbridges for G4 and G5.
This information was appended to an article that focused on how great, and power-efficient, PA Semi's chip design really was. So why wouldn't Apple use them? Gizmodo speculates:
there likely isn't a whole lot "custom" going in the A4's actual design, which by all appearances is an ARM Cortex A9 wrapped up with a PowerVR graphics core and some other parts in a custom SoC. So, new question, if it's true: What's PA Semi, which Apple said would be working on chips for iPhones actually working on? A more customized chip would be interesting, since PA Semi's true talent was in designing chips with ridiculous power efficiencies.
So, we won't see PA Semi until... Apple A5?
Get more iMore in your inbox!
Our news, reviews, opinions, and easy to follow guides can turn any iPhone owner into an Apple aficionado
Rene Ritchie is one of the most respected Apple analysts in the business, reaching a combined audience of over 40 million readers a month. His YouTube channel, Vector, has over 90 thousand subscribers and 14 million views and his podcasts, including Debug, have been downloaded over 20 million times. He also regularly co-hosts MacBreak Weekly for the TWiT network and co-hosted CES Live! and Talk Mobile. Based in Montreal, Rene is a former director of product marketing, web developer, and graphic designer. He's authored several books and appeared on numerous television and radio segments to discuss Apple and the technology industry. When not working, he likes to cook, grapple, and spend time with his friends and family.