Chronic Dev Team member @pod2g let the jailbreak community know that he's discovered a new bug in iOS 5 that may allow for an untethered jailbreak in the future.
Hey jailbreaking friends, I've found a bug that can untether iOS 5. Don't expect a release soon, but I'm gonna work hard in it.
Currently, the only way to jailbreak iOS 5 is by tethering your iPhone to your PC or Mac and re-jailbreaking with RedSn0w each time a reboot is needed, which can cause a lot headaches for users on-the-go.
Details are slim, and we still aren't sure if this will cover the full gamut of iOS devices including the new iPhone 4S. In any case, we're looking forward to an untethered jailbreak for iOS 5 but it appears we'll have to wait a bit longer. In the meantime you can check out the TiPb Jailbreak guide or head over to our Jailbreak and Unlock forums!