There was a long due upgrade after Cydia acquired Rock which was being worked on. The upgrade for Cydia will be pushed once iOS 4.2 is released. As iTunes 10.1 has dropped, it means that iOS 4.2 is about to make final appearance. Why not have some look at new Cydia?
The main changes in Cydia are being brought for iPad. It will adjust according to different orientations of device instead of portrait mode only. Cydia on iPad is looking more compatible as it utilizes iPad’s full screen view while installing and loading packages. Besides, Cydia will have some fine grained filters to assist in choosing and installing packages. Obviously, you will get once iOS 4.2 jailbreak is released. Remember that in order to jailbreak 4.2, you should have already saved SHSH blobs otherwise it will not be untethered jailbreak.
According to @chpwn
Cydia was never “not ready” for iOS 4.2. There’s just no need to push out an upgrade: 4.2 hasn’t been released (yet; and no official date).
Via: FSM
Update 1: Sn0wbreeze will likely support tethered iOS 4.2 jailbreak for OTB device.

