It didn't take an awful lot of new code or hunting for exploits to jailbreak the iPad. Known iPhone hacker MuscleNerd ported Comex' "Spirit" iPhone jailbreak to the iPad, and got it working. It exploits a bug in iPhone 3.1.2 which apparently still exists in the iPad's version (3.2). You want proof? Here you go.
The code hasn't been released yet, and most likely won't until the arrival fo the iPad 3G or iPhone OS 3.2, just to keep things consistent across devices. It's great news for those that want to squeeze a little more out of their iPad than just Apple's pre-approved functionality.