It will not be possible to jailbreak 5.1 untethered iPhone 4S, iPhone 4, iPhone 3GS, iPad 2, iPad 1, iPod touch 3G and iPod touch 4G using Corona, iPhoneism has learnt.
A number of iOS developers have announced via Twitter that it will not be possible to jailbreak 5.1 untethered iPhone 4S, iPad 2 and other iOS 5 compatible devices using Corona, which is currently being used to jailbreak all A4 devices untethered on iOS 5.0.1.
Given the fact that jailbreaking iOS firmware is akin to a cat and mouse game between Apple and jailbreak developers, it is very well known that as soon as a new jailbreak is released, Apple pushes out a new firmware version to patch that vulnerability. Aspiring jailbreakers are strongly cautioned not to upgrade to the new firmware because it takes some time before a jailbreak is available for that new firmware. Since the Corona iOS 5.0.1 untethered jailbreak is relatively new, it is our duty to warn you that if Apple releases a new firmware version in the near future, avoid upgrading to it at all costs because there's a huge possibility that this particular exploit, which brought an untethered jailbreak for iOS 5.0.1 after a lot of agonizing wait, will be patched and you will not be able to jailbreak 5.1 untethered iPhone 4S, iPad 2 and older A4 based devices.
Since a number of iOS developers have announced on twitter that you will not be able to jailbreak 5.1 untethered iPhone 4S and other iOS devices using Corona, it is only a matter of time before confirmation comes from the jailbreak gurus such as iPhone Dev Team and p0d2g. Even if you're not running iOS 5.0.1 right now, it is imperative that you upgrade because once a new firmware version is out, Apple will stop signing iOS 5.0.1 and you will not be able to upgrade to it, hence you will be left with either a tethered jailbreak, or if you're really unlucky, no jailbreak at all. Imagine the horror!
A couple of days back Apple seeded iOS 5.1 beta 3 to developers. While iOS 5.0.2 release has been rumoured a number of times, there's still a possibility that Apple will release iOS 5.1 in the near future. A tethered iOS 5.1 jailbreak might be released for older A4 based devices, an untethered one will take a lot of time. Therefore you're advised to save iOS 5.0.1 SHSH blobs as soon as you can to protect yourself against accidental upgrade. At this point no one can be sure if it will be possible to jailbreak 5.1 untethered iPhone 4S as well as other devices, one will surface for sure, but it will take a lot of time to develop.