This probably goes without mentioning, but iOS hacker @pod2g has confirmed that he is looking for vulnerabilities in iOS 5.1. He is the hacker who has found vulnerabilities in previous iOS versions, which eventually led to an untethered jailbreak in some cases. The Absinthe jailbreak for iPad 2 and iPhone 4S was based on exploits that @pod2g discovered.

There is no word yet on his progress and a release of a new jailbreak is no where close, but we can hope that if he does find new exploits, for a new jailbreak, that it will work on the new iPad, as well.