I was able to root the older Cruz T408 by following the steps here
Today I have a Cruz T508 tablet that just came out. I am Rooting the device with the GingerBreak v1.2 and it says
Rooting... Running exploit... This may take a few minutes! Device will reboot on success!
But it has been over 1 hour. Wonder why it won't work. If you help me I can donate money to you via PayPal. You also have the option to use the webcam to see the device while we text chat or talk on the phone.