5 SECONDS to bypass an iPad 2 password
Found on The Register on Tuesday, 25 October 2011
Bypassing the unlock screen on iPad 2 can be accomplished by first pressing the power button until the power-off screen is displayed. Users then need only to close and reopen the fondleslab's 'smart cover' before, finally, pressing the cancel button to unlock the device.
One obvious workaround would be to instruct users to close any foreground application before locking their iPad.
Having to close foreground applications is a workaround just like the "hold your iPhone not like that" workaround.