Early today, pod2g has again updated us on his progress and it seems that he is nearly done testing the older devices. He has fixed some stability issues and has to consolidate a package for the jailbreak community, but isn't allowing beta testing due to paranoid fearing leaks. A couple jailbreak developers have headed off to the other team (internship at Apple), like comex.
There was a postive note: "In the meanwhile, I'm starting the research for iPad 2 and 4S". Still no word on an iPad 3 jailbreak for the jailbreak community. :)