5.1.1 Untethered Jailbreak has been announced that it will work on all devices including the ipad 3 and apple TV 3.
Pod2g (the creator of the 5.1 and 5.1.1 jailbreaks.) has stated that the ipad 3 (new ipad) was successfully jailbroken and untethered. A few days ago Pod2g tweeted that the ETA for the jailbreaks have been set to: "a couple of weeks."
Commonly "a couple of weeks" should be less than 2 weeks. It will most likely be released before June. Another known jailbreaker by the name of i0n1c has been teasing the jailbreak community for a while now. Posting pictures and videos about the jailbreak and tweeting about how he loves it proves that the jail breaking world has some black hats in it.
We look forward to more tweets by pod2g.