One question is how this soon-to-be newest member of the Royal Family will be styled. The simplest form would be 'HRH Catherine of Wales'. She would NOT be 'Princess Catherine' (no matter how much you see this term in the papers) Prince William has a courtesy title, in other words, he has no title of his own, he is a Prince merely by virtue of being the grandson of the Monarch.(William's father Charles had his own title 'Prince of Wales' when he wed and thus his wife became Princess) Because of this the closest that Kate could get to the title 'Princess' would be 'HRH Princess William'.....I think we can safely say that one is off the table.
The next option would be, given the Queen's custom of bestowing Dukedoms on her male descendants soon after their wedding, that she will be known as ' HRH Catherine, Duchess of X ' So what would 'X' be? Royal custom is that the Sovereign's eldest son is give the Duchy of Cornwall (and this is indeed where Prince Charles derives most of his income), the second son is given York as his Dukedom (Prince Andrew, created Duke of York on 23 July 1986), traditionally Prince Edward would have been made Duke of Connaught, however he turned down a Dukedom for reasons of his own and was given the ancient title 'Earl of Wessex' leaving the Duke of Connaught open as a possible title.
Unfortunately there are political problems with that title. Thus last time it was bestowed was in 1874 when the whole of Ireland was subject to HM Queen Victoria, that is no longer the case and the Irish nation would probably take umbrage at the current Monarch gifting them with a Duke in lands which are no longer under her sovereignty. Next in precedence would be the Dukedom of Cambridge, and that is my prognostication, by the end of next summer we will be greeting 'their Royal Highnesses Prince William, and Catherine, Duchess of Cambridge'.
Visit us again for more on the sacred nature of both Marriage and Monarchy.
Be sure and read my other posts and learn more about the links between the ancient, the sacred, and the modern world.
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