I just upgraded my friends 3gs from 3.1.3 to custom firmware 5.0.1 through sn0wbreeze, and jailbroke through redsn0w.
I am having a couple issues after this process has been done.
1) Cydia packages are not loading, nor are the packages from any new repos.
2) Lock screen is not working when hitting the power button. Power off still works so I know it is not a hardware button issue. Normally I would just download activator and do a work around that way however with Cydia not loading i cannot even do that.
Information on device:
iPhone 3gs
New bootrom
IOS: 5.0.1
Baseband: 05.12.01
Carrier: h2o
Jailbreak used redsn0w 0.9.9b9d
Used sn0wbreeze 2.8b11 to preserve baseband
Bump.
Still having issue with lock screen not working with power button. This worked fine before the update/jailbreak. Still powers off no problem but does not sleep/wake.