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bcaus u r not ready yet :)
now run redsnow one more time and do the same but select the " just boot tethered right now "
and wait folow...
i could be cable ,i had same prob .try to use original ipad cable
redownload ur packages like Redsnow and ipsw ...
did u tried with another and original syn cable??
after too many try i just installed winterboard and everythings was ok until i did a reboot ,now its waithing on "apple logo" !!!:(
did u tried at "WINTERBOARD" working on new ipad 4.2.1 ? i just tried but nothing happened!!