For those who may be wondering, iOS 5.1 can only be jailbroken on the older a4 devices. In addition to the device limitation, the jailbreak is semi untethered meaning that users will need to boot tethered when their device shuts down. These limitations are caused by the fact that Apple patches exploits used in previous versions of iOS.
This being said, anyone that updated to 5.1 or is on it for any reason on their iPhone 4S or iPad 2 may be in luck. Pod2G tweeted that he is currently looking for vulnerabilities in 5.1. If you don’t know Pod2G is the one behind the previous jailbreak exploits. On the other hand the last jailbreak took months to make, and burned all the previously discovered exploits. While it will be inconvenient there may be in fact an all inclusive untethered jailbreak on 5.1. As for the new third generation iPad nobody knows whats in store. Although it is improbable, we hope the new device will be cracked soon after its release.