Pod2g has taken his research and development as far as he can and he is now collaborating with members of the Chronic and iPhone Dev teams to complete what he has started. He recently released an untethered jailbreak for iOS 5 on older generation devices so this is the next step. We have already seen Pod2g's work in the updated version of Redsn0w and in the Corona utility on Cydia so things are really looking up.
Unfortunately though for iPhone 4S and iPad 2 owners the teams have been unable to release an untethered iOS 5 jailbreak for these devices because they don't have the relevant exploits to inject the untethered files. The exploit that has been used to jailbreak the developers test devices requires the use of an official developer account and this means it cannot be released to the public.
For all those anxiously waiting for news of this new jailbreak it appears that MuscleNerd is also in on the action as well as Cydia Founder Jay Freeman aka Saurik and they have been posting updates via Twitter. It looks like progress is being made and they are hoping to have the A5 jailbreak available as soon as possible. As soon as we have any further updates we will be sure to let you know.