We all breathed a collective sigh of relief when we learned that Motorola provided the Xoom with an unlockable bootloader, giving developers and hackers easy access to the hardware. And since many of you guys aren't familiar with the concept and the way it works, allow me to direct you to Android Central member thefredelement and his Xoom unlocking guide. He has everything laid out nicely for you to get the drivers and set things up so you're ready to go.
Keep in mind that this isn't rooting your Xoom. With an unlocked bootloader and fastboot mode, there's no need to worry about finding exploits to root the OS. Instead, developers will just build a package you can flash from a custom recovery with anything and everything you need to have complete control over your tablet. I expect a custom recovery and those flashable packages in very short order. [Android Central forums] Thanks thefredelement!