Thats right, this method will work for any xoom on any update - Including future updates!!!
Note: Unlike the similar method floating around on here, this also gives you an unsecured boot image.
-- Please Note: this thread is still a work in process and has been sped up by the arrival of the 4g Xooms --
Current requirements: adb & fastboot have been setup and you have an external sdcard for your xoom.
1. Setting up adb & fastboot
Coming Soon! (If you want to write this section for me and pm me it, thats fine !)
2. Downloading the rooting-update zip file.
Download the zip file from here.
Now place this on your external sdcard. - Sorry this is a requirement at the moment, like I said this is a bit rushed.
3. Flashing recovery
1. Download this Recovery image.
2. If your device is locked, now is a good time to unlock it.
adb reboot bootloader fastboot oem unlock fastboot reboot
adb reboot bootloader fastboot flash recovery recovery-Tiamat-R4c-100611-1150-cwm.img
Then 3 seconds after you see the Motorola logo, hit volume down. You should now see "Android Recovery" in the top left corner. Hit volume up to boot into recovery.
4. Flashing the Xoom-Universal-Root.zip file.
If you're in clockwork mod recovery you can continue (This recovery image will say it is clockwork mod) . If you're not looking at clockwork mod, then you need to repeat step 3 again.
In cwm, go into "install zip from sdcard" -> "Choose zip from sdcard", then select the Xoom-Universal-Root.zip file you downloaded.
Note: use the volume buttons to navigate and the power button to select
Reboot your device and then welcome to your rooted device!
Universal Xoom root - version 1.0