A member of the dev-team is working on an iPad2 jailbreak ever since the device was launhced. The new jailbreak will use another PDF exploit via jailbreakme.com and support iOS 4.2.1-4.3.3. However, one of the jailbreak beta testers leaked the exploit online.
"Many users who have tested this jailbreak have reported that this exploit only works with WiFi-iPads only and Safari keep crashing.
Please note: This version of the JailbreakMe 3.0 exploit has not been confirmed by the dev-team or @Comex himself.