Great news for owners of A4 devices including the iPad1. The new redsn0w version (0.9.10) just released will now perform an untethered jailbreak on your devices!
Get it from the usual source - Dev-Team Blog
Tutorials and other sticky threads will be updated later. In the meantime, enjoy your untethered goodness on the iPad1! Happy HolidaysWARNING: The initial version of the untether BREAKS iBooks on the iPad and iPhone. You are advised to steer clear until @pod2g releases an update if you rely on the iBooks app. He is aware of the problem, has a solution, and is working on a payload to fix!
Note: iPad2 owners, this is NOT for you. There is no ETA for an iPad2 release, please don't ask for one!