Pod2g is a notorius idevice hacker, Today is no different for his current abilities as such, Up for download is the newest untether jailbreak for the iPhone 3GS, 4(+CMDA version) iPad 1, iPod Touch 3G and 4G on iOS 5.0.1. The jailbreak is available through redsn0w 0.9.10, Pawnage Tool and the Chronic Devteams Cydia package.
Pod2G also stated he is looking to jailbreak A5 devices(iPad 2, iPhone 4s) So there is still hope for you rich folks out there just yet!!
