Last night MuscleNerd said that Apple knows about a new downgrade method for iOS 5.0.1, but chose not to block it in iOS 5.1.1 which was released more than 12 hours ago. The downgrade method that MuscleNerd talks about is different from the one already implemented in redsn0w and is different from the one iH8sn0w has. The method that MuscleNerd owns does not use Apple's proprietary files to allow us to downgrade and it seems that Apple knows how it works, but chose not to block it even though it could very easily do so.
This method works with iPhone 4S, iPad 2 and iPad 3, but only if you have SHSH saved for them, so without that file you cannot use it if it will be released in the near future. MuscleNerd has not said anything at all about the development process of this downgrade method, but if we have it available in the near future I will let you know.
