
Want an untethered jailbreak? Don't Update to iOS 5.1.
The recent untethered jailbreak for A4 devices and the upcoming untethered jailbreak for A5 devices will only be for iOS 5.0.1. It has been confirmed that iOS 5.1 beta 3 closes the exploit for the Corona untethered jailbreak - yes that includes the redsn0w 0.9.10 jailbreak because it uses the same exploits found by iOS hacker pod2g as Corona does. iOS 5.1 is currently in beta, and will be released to the public very soon.
If you want your untethered jailbreak for iOS 5, then we recommend that you stay with iOS 5.0.1, or you update to iOS 5.0.1 if you have not already as soon as you possibly can. Since iOS 5.1 closes the exploits used in iOS 5.0.1 with the Corona untether, more exploits will need to be found to jailbreak iOS 5.1 untethered. A4 devices will likely have a tethered jailbreak for iOS 5.1 at least, because of the fact that A4 devices have a bootrom exploit. A5 devices on the other hand, won't be so lucky. A5 devices also currently have no way to downgrade firmware, so again I emphasize, if you want an untethered jailbreak then get on iOS 5.0.1 while you have the chance!
If you are an A4 device user and you have your APticket and SHSH blob custom firmware for iOS 5.0.1, then you can update to iOS 5.1 to try it out when it comes out with the security that you can always downgrade again. iOS 5.1 will bring few new features to iOS such as the ability to delete individual photos from your Photo Stream, and the ability to toggle 3G on the iPhone 4S. It is also said to have indefinitely solved the battery crisis on the iPhone 4S. If you feel that these features are worth losing an untethered jailbreak over, then go ahead and make the leap of faith.
If you are using an A4 device and you want to secure your position in iOS 5.0.1, then you can follow our guide on making a custom iOS 5.0.1 firmware with iFaith. It was written for iOS 5.0 but it will be the same process for making an iOS 5.0.1 firmware. You can also use TinyUmbrella and redsn0w to make custom firmware if you're not a Windows user. Good luck!
Sources: Redmond Pie



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