Apple hacker pod2g filled us in with details on his work regarding the untethered iPhone 4S jailbreak and more recently we’ve seen big steps being taken in the right direction to unlock iOS 5.0.1, as a couple of roadbumps were cleared along the way.
In the video below we can take a look at an iPhone 4 running jailbroken iOS 5.0.1. The developer posted that the solution is “near ready for prime time”, but not for the iPhone 4S. You can see the version of iOS as well as Cydia running successfully both before and after a restart, thus proving it is untethered.
Source: pod2g’s iOS blog