Not my guide and i take no credit for this*
[ Register or Signin to view external links. ]
With todays release of iOS 5.0.1 and pod2gs warning about updating to the new firmware, many people are wondering when an untethered Jailbreak will be out and what firmware(s) it will support. Unfortunately, the answer is rather simple, the yet-to-be-released untethered Jailbreak will only support iOS 5 and not iOS 5.0.1 (as mentioned yesterday by pod2g).

Essential, with the release of iOS 5.0.1, Apple closed a major security flaw that Charlie Miller discovered the flaw has the potential to dramatically decrease the time needed to create an untethered Jailbreak. The screenshot embedded below was taken from Apples 5.0.1 security information section and it proves that the bug Miller discovered has indeed been fixed:

[ Register or Signin to view external links. ]
However, just because the bug that Charlie Miller discovered has been closed, that doest mean that there wont be an untethered Jailbreak for iOS 5.0.1 it just means that there will be an untethered Jailbreak for iOS 5.0 first.

Building on that, MuscleNerd reiterated that as of now, downgrading from iOS 5.0.1 to iOS 5.0 is impossible due to Apples improved verification methods:

[ Register or Signin to view external links. ]
As of now, theres no ETA on the release date for the iOS 5 untethered Jailbreak. But, since Apple has released iOS 5.0.1 and the untethered Jailbreak will only cover iOS 5, theres a good chance that either The iPhone Dev Team or The Chronic Dev Team will try to release a Jailbreak utility as fast as possible. With that said, if you plan on having an untethered Jailbreak sooner rather than later, do NOT update to iOS 5.0.1 just stay on iOS 5 for now.

UPDATE I created a video that mirrors what this article covers and demonstrates iOS 5s OTA update feature:


+Rep, Thank, And post your thoughts/comments/feelings (Optional)