This update brought a lot of new features to the unjailbreak community...such as AirPlay, new Multitasking animation for iPad, enhanced YouTube upload options, iTunes icon, updated SMS ringtones, and some bug fixes and other improvements.
Direct download links for iOS 4.2.1 (Official):
iPad Jailbreak will keep you updated with the latest on a new easy jailbreak for your iPad.
Finally, how to undo your previous jailbreak to upgrade to iOS 4.2.1
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