Apple has released iOS 5.0.1 beta citing bug fixes. The final (public) version should come out in a few weeks
The jailbreak for 5.0.1 is still tethered though and won't work on the iPad 2 or iPhone 4S. Keep in mind that when an untethered jailbreak does come out, you will need to start out fresh (most likely). I myself have held off on updating to iOS 5 until an untethered jailbreak is out.
Source: http://www.redmondpie.com/jailbreak-5.0.1-ios-semi-untethered-iphone-ipad-ipod-touch-using-redsn0w/
The jailbreak for 5.0.1 is still tethered though and won't work on the iPad 2 or iPhone 4S. Keep in mind that when an untethered jailbreak does come out, you will need to start out fresh (most likely). I myself have held off on updating to iOS 5 until an untethered jailbreak is out.
Source: http://www.redmondpie.com/jailbreak-5.0.1-ios-semi-untethered-iphone-ipad-ipod-touch-using-redsn0w/
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