An iPhone Dev Team member known as "Musclenerd" has managed to port the popular "Spirit" jailbreak to Apple’s newly launched iPad.
An official video appears to show that the jailbreak provides a root shell with full access to the iPad filesystem. The video also demonstrates a connection to the device via ssh, exploration of the OS and kernel, a list of running processes and moving apps out of the default directory.
However, Chad Shmukler of the iPad Guide warned that the Spirit jailbreak for the iPad was not yet ready for the masses.
"Mind you, this isn't yet so functional a jailbreak that it is going to be of much interest to the average user, but as Musclenerd's latest Twitter update indicates, a joint effort by several members of the iPhone Dev Team is now underway to get ‘everything working.’ Cydia and more, shortly to come, on your iPad," wrote Shmukler.