It seems that the Dev Team is still alive and well and today the team announces that it will release a tethered jailbreak solution for iOS 5 considering that it is the last day of WWDC. The team will release a solution only for Mac owners who have installed iOS 5, so we won't be able to use it on Windows for now. The Dev Team has not specified any time frame in which it will release the new tethered jailbreak solution, but I assume that by tonight we should have it available. If a version for Windows will not be released then we will probably have to wait until iH8sn0w releases a version of sn0wbreeze compatible with iOS 5.
The new jailbreak solution most likely works with terminals exploitable by limera1n, i.e. iPhone 3GS/4, iPad and iPod Touch 3G/4G. iPad 2 cannot be jailbroken yet.
UPDATE: redsn0w 0.9.8 beta 1 it was released.
