Just for the record, there is NO update, the version number didn't change on iPad1. It's been 1.1.1 for months. 1.1.2 was made available for the jailbreakme process, and may subsequently get released to all...
The front page of Cydia is just a webpage on the server which gets updated very occasionally!
Now if only Saurik would get rid of the 4.02 article we would be golden!
When a true update us made available, Cydia lets you know when you open it and you can choose to install it or not. So no need to sweat it, you will get the update when Saurik deems it right for your device...