Apple released iOS 5.1 beta 3 today. The update was only available via OTA. But now it is also available for download on Developers Portal for iOS Developers.

Like always every new beta got some expiry dates and like always the one and only ih8sn0w, the person behind Sn0wbreeze reveals the Expiry date of the Betas. Today according to his Tweet the newly beta released today will expire on Wednesday, March14, 2012.

Today’s new iOS 5.1 developer beta (9B5141a) expires on Wednesday March 14, 2012 @ 8PM [EST]. #TheMoreYouKnow

Till now the change log is not yet available for the iOS 5.1 Beta 3. According to our findings, you cannot go back to iOS 5.0.1 or below, if you have updated to iOS 5.1 Beta 3. You will only be able to update to future betas and the new iOS 5.1 when ever it is released.

If you got your SHSH Blobs saved, So then you might be able to downgrade back to iOS 5.0.1 or below.