Works till you shut the phone
version of iOS 5 is out and many users have already experienced issues with slow downloads and with some installation errors.
It is kind of easy to understand as millions of people went to download this 700MB update for their iPhones, iPads or iPod touches. The good news for jailbreak lovers is that Redsn0w 0.9.9b5 is available and it supports creating custom ipsw files.
Windows users are doomed to use redsn0w 0.9.9b4 for Windows or sn0wbreeze v2.8 beta 8 (Windows only). All of these methods will let you jailbreak iOS 5 on iPhone 4 all versions, iPhone 3GS, iPad one. At this time there is no possibility to jailbreak iPad 2 with iOS 5 and probably the jailbreak will not work for iPhone 4S either.
One big warning is that this jailbreak is tethered, which means it will only work until you turn off or reboot your phone. Once you reboot it you will need a computer to enable jailbreak again, and at this time there is no solution to let you use un-tethered jailbreak on iOS 5 capable devices.
If you are interested, this
is a good place to start.