Well the wait is over and we can confirm that after testing the exploit on his iPhone 4 running the latest iOS 5.0.1 firmware, he has confirmed via Twitter that it is working. This ultimately means that you can now update your iOS device to iOS 5.0.1 and still jailbreak it. If you are an iPhone owner who relies on Ultrasn0w for your unlock you are advised against upgrading to preserve your old baseband.
Here�s what Pod2g has to say on his twitter account: Got an untethered iPhone 4 running iOS 5.0.1. Feel free to update.
This is great news for anyone who accidentally updated to iOS 5.0.1 only to find that they were locked out on the new firmware with no way to downgrade to iOS 5.0. It is important to note that so far the exploit has only been confirmed working on A4 based devices and below like the iPhone 4, iPhone 3GS, iPod Touch 4G and 3G, Apple TV and the first generation iPad. There has been no confirmation as yet as to whether this will work on A5 based devices such as the new iPhone 4S or the iPad 2.
Currently there is only a semi-tethered jailbreak for iOS 5.0.1 and you can choose from either Redsn0w, Ac1dsn0w or Sn0wbreeze. If this new jailbreak works untethered then this really is great news.