Look in this forum under the sticky thread - there is a pretty good "how to" post that explains much of this, but here are the highlights:
- First, be prepared to loose everything on your iPad (however, if before you jailbreak, you backup your info, you can restore). Not saying this will happen, but it might.
- Second, everytime Apple comes out with a firmware update, you'll loose your jailbreak and all the apps. That's why SHSH Blobs are important - they "authorize" your iPad to run specific firmware revisions.
Cydia has a built-in SHSH Blob backup utility. By doing this, you can run older versions of iPad firmware that are jailbroken. In time when the newer firmware has been jailbroken you can update then and re-jailbreak then restore, and backup you SHSH Blobs again.
Once you jailbreak, within Cydia you'll see a "make my life easier" button. Clicking that will automatically backup your blobs on Cydia's server.
- Third, change your passwords! There are two accounts (like a Linux/Unix computer) that have default passwords on them, "root" (the super user of the system with permissions to do everything including wipe your device and copy all data), and "mobile" (additional account with access permissions to your file system). By default, these accounts have the same password on every iPhone, iPad, and iPod globally (which means everyone/anyone can get into your device and mess with it). This is one of the most significant dangers for novice jailbreakers.
So, in summary:
- Jailbreaking can be "cool" - but check the apps out there by Googleing "Cydia Apps" or "Top Cydia apps for iPad", etc, etc. If you see stuff you can't live without, go ahead. If not, don't bother jailbreaking. Not all iPhone/iPod jailbreak apps work on iPad, some of them will tank your iPad and you'll have to restore it.
- You might be in for a rough ride. If anything goes wrong, Apple won't help, and if they somehow detect that you jailbroke your iPad (even if it doesn't look jailbroken), no warranty, no service.
- Keep in mind that with every release of software from Apple, you won't be able to upgrade until/unless a newer jailbreak is released
- Change your passwords immediately
- Lastly, be familiar with the recovery procedure detailed here (just in case):
http://www.ipadforums.net/ipad-help/2987-how-put-your-ipad-into-recovery-mode.html