TinyUmbrella has been updated to version 5.10.08 for saving SHSH blobs on the first public build iOS 5.1 of “The New iPad” and Apple TV 3. Notcom, the developer behind the TinyUmbrella tool added the support soon after Musclenerd teased “The New iPad” running Cydia application on it.
As noted on The Firmware Umbrella:
TinyUmbrella now has support for saving 5.1 SHSH for Apple TV 3 and the iPad 3 (all versions). As of now we still cannot restore them but we are working on getting that working from a bunch of angles. I’ll let you know more when I do.
“The New iPad” owners on iOS 5.1 Build 9B176 (or whatever it is shipped with) should download the newest TinyUmbrella and save their SHSH blobs right away. These backed up SHSH blobs will come handy in event of downgrading the iPad firmware after a new iOS software update is released and you intentionally or inadvertently update your device to newest firmware.
Without saved SHSH blobs firmware downgrade to old ipsw is not possible and, you won’t be able to downgrade back to 5.1 for an untethered jailbreak.
So what are you waiting for? Hit up TinyUmbrella and download the latest version for both Windows and Mac.