Jailbreaking your iDevice allows you to use it in ways not sanctioned or authorised by Apple, including running third party software that wasn't approved by Apple for its App Store.
Sadly, for all those hardworking developers busting a gut to create interesting apps, jailbreaking also allows piracy of apps to occur, even though Apple is the company that pushed mobile phone software prices down to unheard of super cheap levels, especially when compared to the high prices people have been used to paying for boxed software in stores.
That said, some people will never pay for anything, which includes declining to make any donations to the iOS hackers.
In addition, jailbreaking carries some serious security risks if you fail to keep your iDevice patched with whatever security patches are released, alongside risking identity and information theft if malware-ridden pirate apps are installed from dubious sources, so it must be said: be sure you know what the heck you're doing before you choose to hack into your iDevice.
At least the good news is that, generally speaking, you can easily restore your iDevice back to 'factory settings' should something go wrong, but then there's no guarantee you won't end up with an iBrick.
The simplest slick iPhone or iPad unbrick trick is to put your device into DFU mode (do a Google search), then plugging it into iTunes for a restore, but sometimes iDevices are iBricked up the wazoo and ain't ever comin' back from whichever part of iHeaven or iHell they're currently stuck in.
So'¦ now that we've hopefully sufficiently warned you about the dangers of jailbreaking and the need to know what you're doing before you go about potentially iBrickifying your iDevice, let's get on to the news of the jailbreak itself.
French hacker, M'sieu Pod2G, stated earlier at his site that 'you'll be able to free your iPhone in some hours', and that time has now come - so much so that a second build of the jailbreak tool needed to be released to ease the load on the initial jailbreak server location.
More details are on page two, so please read on!
Pod2G noted that: 'A tool named Absinthe and developed by the Chronic Dev Team will install the untether on your device. Also the iPhone Dev Team will release a CLI (command line) tool to help diagnose issues and repair things if it goes wrong.'
'As you already know, different security researchers put a lot of energy to work out the different issues we had to install the untether on new devices.
'Thus, a unified PayPal account was opened so that everyone who worked on the A5 exploits will receive a fair split of your contributions. (See Pod2G's site for link location).
'As usual, contributions are not needed but are appreciated by developers. By the way, thank you very much again for everyone who already participated. This is real nice.
'Here is the complete list of Absinthe supported devices :
iPhone 4S running iOS 5.0, 5.0.1 (9A405 and 9A406)
iPad 2 Wifi/GSM/CDMA running iOS 5.0.1
'Also, here is MuscleNerd's which explains the whole story in a really precise way: iPhone Dev Team blog post.
The location for the Mac version of the jailbreak software, again really only for those who know what the heck they're doing, is here. A PC version will obviously come sooner rather than later, find a friend with a Mac in the meantime if you're so desperate you can't wait any longer.
May the force be with you, and remember, Steve Jobs is watching from upon high and presumably now knows whether you've been naughty or nice, so jailbreak away at your own risk: we disclaim any and all responsibility for any and all things you ever do, ever, including when iMucking around with your iDevice.