Looks like the new iPad is already well on its way to getting a new jailbreak. The Dev Team has posted a status update on the new iPad, and have in fact already jailbroken is on iOS 5.1 using a few different methods.
We can confirm that the method used to jailbreak the iPad2 4 months ago (before corona) still works even in 5.1. That means we’ll at least be able to get our foot in the door to get the required kernel dumps on the iPad3. That’s an important step, but by no means is it the end of the story.
Those of you following @i0n1c may have noticed he’s already tweeted pictures of his iPad2 jailbroken at 5.1. As far as we know, he’s using a method completely unrelated to the one mentioned above. That would be great news!
We’ve also seen bits and pieces of an entirely different jailbreak method being investigated by someone close to the Cydia repo scene.
While there is no ETA for a jailbreak tool to be released, this should allay fears that the new iPad jailbreak would take as long as the iPad 2 or iPhone 4S jailbreaks took, which involved months and months of work.
Anyone planning on jailbreaking when the new iPad tool is released?
Source: Dev-Team Blog