If you’ve updated your iOS devices past iOS 5.0.1, then you would have lost your untethered jailbreak. Hackers are working on a solution for Apple’s latest firmware, but it’s expected to be at least several months before it makes its public debut.
Fortunately, there is hope. The upcoming Redsnow release will allow you to downgrade your A5-powered devices — the iPhone 4S, iPad 2, and the new iPad — so that you can reinstate your untethered jailbreak.
There is one caveat, however. To downgrade, you will need to have your SHSH blobs for the firmware you wish to downgrade to. For example, if you’re downgrading your iPhone 4S from iOS 5.1.1 to iOS 5.0.1, you’ll need the SHSH blobs that were used by your iPhone while it was running that software.
That means that if you purchased your device with iOS 5.1 pre-installed, you’re out of luck, and you won’t be able to take advantage of the untethered jailbreak. So anyone with the new iPad will be able to downgrade to iOS 5.1 only, because this is the earliest software for that device.
iDownloadBlog explains your downgrading possibilities in this handy guide:
iPad 2/iPhone 4S: If you have iOS 5.0.1 SHSH blobs, you can downgrade to iOS 5.0.1 for an untethered jailbreak.
The new iPad (iPad 3): You will be able to downgrade to 5.1 only. This is because there was no 5.0.1 for the new iPad to begin with, hence there are no SHSH blobs for 5.0.1 making a downgrade to this firmware version impossible.
There’s no word on when the Redsn0w update will be available, but it is expected to arrive soon. Just hold onto those blobs!