If you have been patiently waiting for a jailbreak to be released for the third generation Apple TV (1080p) then you are going to be in for a huge disappointment. According to iOS jailbreaker pod2g, he is not working on a jailbreak for the Apple TV 3 and he is not aware of anyone else who is either.
ATV3 jailbreak: I have no news sadly, I'm not currently working on it nor anyone that I'm aware of. Sorry...
The third generation Apple TV was released way back in March of this year and has yet to see any development on the jailbreak front. The second generation Apple TV has been jailbroken now on all iOS software versions, and is a hugely capable media center once Apple’s restrictions have been bypassed. You can then run XBMC and other media management apps which will let you access media stored on file servers and play media types not supported by Apple.
The lack of any progress with a jailbreak for the Apple TV 3 will make the used market for Apple TV 2’s go into overdrive; due to the huge interest in jailbreaking the device. I sold my second generation Apple TV a few months back and it sold for nearly double the amount that I paid for it. If you aren’t interested in jailbreaking your second gen Apple TV, now may be the time to cash in on it and get the third generation model and have money left over. If you do decide to upgrade in this way, you can look forward to some 1080p content and some spare cash too.
Have you been waiting patiently for an Apple TV 3 jailbreak? If you have, are you going to look at different alternatives now that it looks like you may have to wait a whole lot longer?