Well, isn’t this a nice little late Christmas gift. Following the last month of updates, pod2g has finally released his untethered iOS 5.01 jailbreak through the iPhone Dev Team and Chronic Dev Team. But sorry chaps, it won’t work on the iPhone 4S or iPad 2. Not yet, anyway.
The iOS 5 and iOS 5.0.1 untethered jailbreak only works on the iPhone 4, iPhone 3GS, iPod touch 3G and 4G, and the iPad 1. The reason why the iPhone 4S and iPad 2 aren’t supported is because the A5 chip used in both have had their security tightened, making it impossible to use geohot’s limera1n exploit to inject the untethering mechanism into the device.
pod2g’s working on extending the untether to iPhone 4S and iPad 2, but it could take time. I’m a little surprised he released the jailbreak without getting it working on the iPhone 4S and iPad 2, frankly: seems like it might give Apple enough time to close the exploit.