The jailbreak, created by "Comex" (a known Apple hacker), means that iPad 2 owners can now add their own modifications and install third party apps to the tablet. Or at least they would, but Comex hasn't released the jailbreak for public consumption just yet.
On Twitter, Comex states that the jailbreak would have been sooner: It wasn't that he spent hours queueing up to get his hand on the device either. In fact, he doesn't actually own an iPad 2, so he -- rather incredibly -- worked on the hack remotely (he used a friend's iPad, 2500 miles away). The main reason though was because he needed to find a new exploit in 4.3--his original kernel bug was closed in the software update.
Sadly, more information on the hack is unknown for now, but it turns out that the iPad 2 is pretty speedy loading things in the jailbreak application. Check out "Chpwn's" short video of the new iPad running Cydia 1.1.
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This story, "iPad 2 already jailbroken, running Cydia" was originally published by PCWorld.