As the cat and mouse game between Apple and the jailbreaking community continues, another exploit has been discovered that will jailbreak the iPhone 4, iPod touch 4 and iPad. The exploit was found within the A4 chip bootrom, similar to that of the iPhone 3GS (old bootrom) exploit.
The exploit was discovered by p0sixninja, who originally planned to make the jailbreak available tomorrow, on 10/10/10 at 10:10 AM. The exploit will only work on the iPhone 4, iPod touch 4 and iPad, as they all use the A4 chip, but the team mentions that there will be future releases.