Just a few minutes ago, the redsn0w testers (@redsn0w_testers) Twitter account tweeted out that the iPhone Dev-Team released an update for redsn0w (bringing it to redsn0w 0.9.9b5). The primary goal behind this release was to update redsn0w with the new public URLS for IPSW files. Basically, this allows first-time iOS 5 jailbreakers to not have to supply an IPSW file to jailbreak on iOS 5.
On the iPhone Dev-Team Blog, there was also mention that a little bit of functionality from PwnageTool was added to this release. In the Extras section in redsn0w, you can choose an option called "Custom IPSW" which will build an IPSW file without the baseband for 4.3.3 or iOS 5 GM (for iPhone 3GS and 4 only at this point). The team plans on updating PwnageTool for iOS 5 when an untethered jailbreak comes out.
Here is the full update on what is new and important with redsn0w 0.9.9b5 (READ CAREFULLY. THE WARNINGS ARE EXTREMELY IMPORTANT):
Originally Posted by iPhone Dev-Team Blog;
Download the new redsn0w 0.9.9b5 beta for Mac right here:
redsn0w 0.9.9b5 for Mac
- Redsn0w is still a tethered jailbreak except for iPhone 3GS old bootrom users. Otherwise, there is no untethered jailbreak at this time.
- You cannot jailbreak your iPad 2 on iOS 5 at this time
Source(s): redsn0w Testers, iPhone Dev-Team Blog