Well, that didn't take long. The iPad is now officially jailbroken on its first day in the wild. Approximately one hour ago, iPhone Dev Team member musclenerd, posted on his Twitter account that a port of the "Spirit" jailbreak developed by comex had been ported to the iPad.
Musclenerd's tweet read "http://is.gd/beaVL initial porting of "Spirit" jailbreak by @comex to iPad", the link pointing to a picture providing rough visual evidence of the jailbreak. Musclenerd has since updated his Twitter account with links to a video showing more of the jailbreak (view the video below).
The video shows that the jailbreak provides a root shell with what appears to be full access to the iPad filesystem. The video demonstrates a connection to the iPad via ssh, exploration of the OS and kernel version information (uname), a view of running processes, moving applications in and out of the iPad's applications directory (and then restarting Springboard via the shell to show the results) and finally, rebooting the iPad via the jailbroken root shell.
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 "cross-team" effort is now underway to get "everything working".
Cydia and more, shortly to come, on your iPad.