Apple have only just announced iOS 5 and it's not even available to iPhone users but that has not stopped it from being jailbroken already. MuscleNerd from the iPhone Dev Team knuckled down and broke it. The jailbreak is in early stages yet and requires the device to be tethered to a PC in order to boot, but functionality wise it is fine. Obviously tethering it is a hassle, but the joy of iOS 5 on your device might just be worth it...
According to MuscleNerd (what a name!) the exploit used to jailbreak iOS 5 beta will work in the final release so there should be the chance that iOS-based devices should get their jailbreak virtually seconds after the full release of iOS 5 in the fall. Now it's a matter of waiting for a few months for iOS 5!
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