So it looks like the lucky owners of Apples new iPad shouldn't be waiting too long for a jailbreak.
A couple of hours ago @musclenerd posted a picture on twitter showing off his latest work also stating no ETA for release.
However a couple of days ago @i0n1c (Stefan Esser) stated he would be jailbreaking (untethered) his new iPad iOS 5.1 as soon as it arrived.
He has recently posted on twitter stating that it's done and as soon as he remembers his YouTube password a video showing the untethered jb will be posted.
Hopefully this jb will be good across all devices.
Just have to wait and see.
(hopefully not too long tho)