iPhone 4S and iPad 2 community is desperately waiting for iOS 5.0.1 jalbreak. While dream Team under the supervision of Pod2g is struggling to get iOS 5.0.1 jailbreak as early as possible. Yesterday, we posted a picture of iPad 2 which is Jailbroken on iOS 5.0.1. There is another thing, as Apple is going to fix the iOS 5.0.1 jailbreak hole in the next release of iOS 5.1, so users were advised to update to iOS 5.0.1, so that if Apple stopped signing iOS 5.0.1, still they can avail the jailbreak.
MuscleNerd has confirmed to iClarified that an untethered iPhone 4S jailbreak for iOS 5.0 will be released at the same time as the iOS 5.0.1 jailbreak, or a day or two later. As always, for those looking to unlock, it is standard operating procedure to stay at the lowest possible baseband.Update: Now you can make iPhone official factory unlock, you can check the details from here