I was so happy to wake up and see this that I had to post it here. Musclenerd has announced the new redsnow, which can now downgrade your iPhone 4S and iPad 2 (or 3, it even says) to 5.0.1 for a untethered jailbreak if you have saved your blobs.
I'm trying it out right now, I'll comment later with my thoughts.
Link to the Post with download (Mac and Windows only)
I'm trying it out right now, I'll comment later with my thoughts.
Link to the Post with download (Mac and Windows only)