[Update 3/17/12] I0n1c posted a video for the untethered jailbreak for iOS 5.1 on the new iPad – check out the video at the end of this post.
More update: @Musclenerd also confirmed that an untethered jailbreak is currently under way. There’s still a lot of work to do, so unfortunately no ETA.
Obviously this does not necessarily mean that we will be seeing a public release of the jailbreak anytime soon; however it does show that the the individuals working on the A5 jailbreak for iOS 5.1 is making progress.
@I0n1c also hints at the possibility of porting the jailbreak onto the new iPad as well:
Anyway so maybe the iPad 3 will not be jailbroken tomorrow, but on Monday or whenever I get my iPad 3
(Interesting how I0n1c notes the new iPad as the iPad 3 – much easier to understand which model it is…you hear, Apple?)
So granted everything goes to plan on I0n1c’s part, we may be seeing a (untethered) jailbreak for the A5 devices (iPad 2, iPhone 4S, iPad 3) running on iOS 5.1 soon enough.
Late last week, the iPhone Dev Team released an update for their redsn0w that supported a tethered jailbreak for all non-A5 iOS devices. Especially after hearing many users’ reports of drastically improved battery life, I’m sure many jailbreakers are anxious to jump on the iOS 5.1 bandwagon as soon as they could (including myself!).