iH8sn0w has released new version of popular jailbreak utility Sn0wBreeze 2.9. Sn0wbreeze is used to create a custom firmware with jailbreak and preserve iPhone modem (baseband) version for unlock. New version 2.9 adds support for untethered iOS 5.0.1 jailbreak as well as support for all firmwares supported by previous versions of sn0wbreeze.
If for some reason you don’t want to use to jailbreak your iOS 5, here is a good alternative utility – Sn0wBreeze 2.8b8. It can perform a tethered jailbreak for iPhone 3GS, iPhone 4, iPad 1, iPod Touch 3G and iPod Touch 4G.
As usual it will preserve your baseband (modem) version for unlock with or Gevey Sim.
You can download Sn0wBreeze 2.8b8 .
UPDATE: Sn0wBreeze 2.8b8 step-by-step jailbreak and unlock tutorials: