Finally, before you start, consider how much data you currently have on your iPad and the resources available on your PC. This jailbreak utilises a vulnerability in the Backup and Restore process. Therefore in order to complete the jailbreak Absinthe will perform a backup and restore of your iPad's data. This raises a couple of important issues...
If you are feeling up to it, the best way to proceed is to backup your iPad (on iCloud or iTunes), use iTunes to restore a fresh install of 5.0.1 (make sure you read the fist part of this preparation to know whether you can do this or not!) and then jailbreak. Once the JB is done in a few minutes you can then restore your device backup and all your apps and settings will be put back as they should be!