Its untethered. Meaning you can turn it on and off at any time without any problems.
Works fine with wifi and GSM/CDMA carrier ipads on 5.1.1
Check out this tutorial. http://www.iclarified.com/entry/index.php?enid=22188
Tethered means everytime you fully shut off your device, you need to connect it to your computer and reboot using whatever software you jailbroke with.
Untethered means you can turn it on and off whenever you please, and it'll always load SpringBoard and Cydia.
I think the easiest way to jailbreak is sn0wbreeze, just select your IPSW, customize it, or go "Simple Mode", and then wait, then use iTunes to restore it.