I just wanted to share some of my experiences with you about the iOS5 jallbreak. First of all - If you haven't done this before, BE CAREFUL! And backup first!
Jailbreak process (courtesy of RedmondPie):
Step 1: Download and install the new iTunes 10.5 on your Windows PC or Mac. Connect your iOS device with your computer and make sure you make a backup of everything.
Step 2: Now upgrade your iOS device to the final version of iOS 5 using iTunes 10.5 on your Windows PC or Mac. Download links for final version of iOS 5 can be found here.
Step 4: Click on the "Jailbreak" option, select "Install Cydia" and follow the onscreen instructions to enter DFU mode. Once you’re in DFU mode, Redsn0w will perform the jailbreak.
Booting into Tethered-Jailbreak Mode:
Step 4: Once you’ve installed Cydia, you will need to boot the device into a tethered jailbroken state. Go into DFU mode, and then in "Extras", opt for "Just Boot". Redsn0w will subsequently boot your device as tethered.
Note: Due to the nature of this jailbreak, you WILL have to repeat this booting sequence every time you wish to reboot your device.
UNLOCKERS USE SN0WBREEZE (again courtesy of RedmondPie)
Step 1: Go to Cydia -> Manage -> Sources -> Add
Step 2: Type in 'http://www.thebigboss.org/semitether/'
Step 3: Search for 'SemiTether' and Install it. This will enable your to use your device on the road if you need to reboot, albeit with less functionality.
Impression on Jailbreak
For a 2-3 week old jailbreak, this is surprisingly stable. HOWEVER, if you are not comfortable with this or are not a developer, wait for the untethered jailbreak. It is VERY frustrating sometimes as apps and themes and the Springboard randomly crash, Cydia sometimes crashes randomly, and Installous is hit-and-miss. Still, it's as fun as usual to tweak your phone and add cool themes and sliders. In iOS5, you can even add custom Notification Center Widgets and backgrounds (just google the last one). Anyone who wants my theme can get it here. Below are some screenshots of my jailbroken iPhone 3GS on iOS 5.
Some of my favourite tweaks are:
BatteryCenter for Notification Center
Five Icon Dock
Five Icon Switcher
Unified iPod for iOS 5
WARNING: Installous and AppSync do NOT work with iOS5 in my experience. Don't steal software anyway.