Limera1n, a new broad-spectrum jailbreak tool, was released over the weekend. The tool is designed to jailbreak devices running the latest versions of iOS, respectively 3.2.2 for the iPad, and 4.1 for the iPhone.
To jailbreak your iPad or iPhone, download the tool at limera1n.com, connect your device to your computer, and launch the tool (called limera1n.exe).
Note that unlike previous iPad jailbreak tools, Limera1n is a little involving, as the jailbreak requires multiple steps, but no need to be overly concerned, as the tool offers detailed step-by-step instructions. Also note that the tool is only compatible with Windows at this stage.
As usual, remember that jailbreaking your iPad is legal, as long as you do not download copyrighted content illegally. Also note that Apple considers jailbreaking a warranty-voiding act, so do it at your own risk.