iPhone Dev-Team Reported that : The iPad2 jailbreak remains under development. As you may know, the original exploit @comex developed in the first week of the iPad2 release was mysteriously fixed by Apple within days of its development. Partly because of this, don’t expect much public discussion of the iPad2 jailbreak until it’s actually finished and ready for release (and please avoid asking about it).
In all liklihood, it will be a userland exploit like the first (unreleased) one, not dependent on bootrom dumps. The first one can’t be released even for those with the original 4.3 firmware due to legal (distribution) reasons.
And as we Know there’s a competition between Geohot and P0sixninja (Greenpois0n developer) to dump iPad 2.
Who will win ? This is what we are all waiting for.