Last night the Dev Team released the beta 4 version of the redsn0w program with which we can jailbreak our iOS 5 GM and iOS 4 devices. redsn0w 0.9.9 beta 4 for Windows and Mac OS X does not bring important news for us, but only changes to the way iOS 5 is recognized by the program and the way the kernel is implemented. Practically, this version brings solutions for the functionality of the program, so you can't do untethered jailbreak and we don't have compatibility with iPad 2.
Update #12: For those of you who experiment with your own custom ramdisks using the -r command-line option, version 0.9.9b4 adds auto-detection support for iOS5. This is needed because iOS4 and iOS5 treat the root partition differently (it's encrypted in iOS5). redsn0w will now upload the correct iOS5 kernel by itself, but it's up to your own launch to determine if it needs to mount using the old or new partition scheme.
redsn0w now also accepts both native and img3-encapsulated versions of files you provide via the -r, -k, and -d command-line options (do redsn0w -h to show all the available options).
redsn0w 0.9.9 beta 4 can be downloaded from here: Windows, Mac OS X. iOS 5 GM Jailbreak Tutorial find here.
