iPhone owners received a nice Christmas gift from the iPhone hackers, an untethered jailbreak for iDevices ( 3GS, iPhone 4, original iPad, iPod touch 3G and 4G ) on iOS 5.0.1. Still nothing for the iPhone 4S and iPad 2, sorry.
Note that this DOES NOT mean that there is an unlock for the corresponding 5.0.1 baseband.
This gift means that you get all your favorite Cydia tweaks and do not have to worry about having to re-run the jailbreak program everytime your iDevice requires a reboot.
The best thing with this present, though, is that if you have an unlockable baseband on your 3GS or iPhone 4 you can now safely update ( via custom firmware ) to 5.0.1 and unlock your iPhone. I have successfully done this to about 15 3GS models now with NO issues.
Note that the hackers, particularly pod2g, is currently looking for an untethered jailbreak for the iPhone 4S and iPad 2.
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