The news is the long-anticipated iPad 2 jailbreak has been leaked, and it just happens that it's made by comex for JailBreakMe.com. This means that when it's officially released, all you have to do is visit that site on your iDevice and slide some bar or something to jailbreak the thing.
Problem is, it's been leaked by an ***ic beta tester.
When I found this out, I thought for sure comex was going to stop development, but as it turns out, he isn't. In fact, he's ramping up the development speed, because Apple might make an emergency release of iOS 4.3, designated as 4.3.4, to fix the the vulnerability and therefore ruin comex's months of work. Because of that leak, he's got a rather short time window to get the jailbreak fixed and released before Apple renders it useless.
Because of the imminent doom for the jailbreak, comex is warning people with iDevices to save their iOS 4.3.3 SHSH blobs with Tiny Umbrella before the fix by Apple comes out, so you can restore to 4.3.3 and still jailbreak the device. I'm having trouble getting over what that beta tester did. It's quite sad.