A lot of progress has been made this past week with the iPhone 4S jailbreak. At the moment, both the 4S and the iPad 2 cannot be jailbroke although this could change in the next few days thanks to some work done by DHowett who is part of the Chronic Dev Team.
In a video posted on YouTube (embedded below) we can see what appears to be an iPhone 4S being rebooted and booting back up (untethered) and then loading up Cydia. There are a few things to point out with this. The first is that the iPhone 4S up till now could not be jailbroken. Also, we learn that the iPhone 4S will have an untethered boot which is also good news. Also, if the iPhone 4S can be jailbroken then so can the iPad 2.
If you plan on jailbreaking your Apple A5 device when the jailbreak is released then now is the time to update to iOS 5.0.1. Apple will be launching iOS 5.1 soon. The exact date is unknown, but if Apple release it then you’ll need to update to 5.1 and will not be able to downgrade back to 5.0.1. It is believed looking at the 5.1 betas that the vulnerability has been closed off by Apple [AAPL]. So, update to 5.0.1 now and expect to see a launch in the next few days of the untethered jailbreak.