I have an iphone 4s running 5.01, and I am waiting, hoping that an unlock will be released. I read that it might be a good idea to downgrade to 5.0 in order to get the older baseband just in case if a future unlock only supports the older baseband.
Well, I bought it with 5.01 already installed, so I had now way of saving the 5.0 shsh. Oh well. Maybe I will get lucky and ultrasn0w will support it. Or maybe Gevey will have something new.