Modders Jailbreak Third Generation iPad on Day of Release
Another well known iOS hacker, Stefan Esser (i0n1C) announced that he too has jailbroken his third generation iPad, which he claims is also untethered. If you follow the modding scene, you'll recall that i0n1c was the one who discovered the untethered iOS 4.2.1 jailbreak exploit, which the iPhone Dev Team and other hackers quickly took advantage of. He posted a video of his jailbroken iPad on YouTube, embedded below.
Finally, hackers Grant Paul (chpwn) and Paul Griffin (phoenixdev) have come up with a third method to the jailbreak the new iPad, which they've shown running Cydia 1.1.5 on iOS 5.1.
None of these hacks are available to the general public yet, but given how quickly progress is being made, we suspect at least one will be released shortly. In the meantime, if you're hoping to jailbreak your new iPad, be sure to avoid software updates from Apple, as they could potentially plug up a necessary exploit that's used to jailbreak it.