Few hours back Apple release iOS 5 GM for developers. Apple not only released iOS 5 GM, but also released iPhone 4S, the Killer Machine. iPhone 4S is not with a new design, but it is with a new interior and with iOS 5 support.
After the release of iOS 5GM, MuscleNerd Tweeted that iOS 5 GM can still be Jailbreakable by the latest Redsn0w 0.9.9b2 which was released today.
Now you will be thinking of the Jailbreak for iPhone 4S ? Not to worry about it because the Chronic Dev-Team promised back at MyGreatFest that they got 5 exploits for the upcoming iPhone 5 which is no iPhone 4S. They only need to get the iPhone 4S to test their exploits and boom. iPhone 4S will also be pwned for life. Not only iPhone 4S but iPad 2 will also be PWNED for life.
Now the wait starts for the release of iPhone 4S and then the Jailbreak for iPad 2 and iOS 5 and iPhone 4S.
To do this Jailbreak you will need iOS 5 Beta 7 which can be found here.