We are now going on two months (five, if you were using developer betas) since Apple released iOS 5, and we still don't have a viable jailbreak. There have been tethered and semi-tethered solutions available, but not an untethered jailbreak tool.
The worst part is that we haven't known how close hackers have been to releasing anything, until tonight. The Chronic Dev Team has finally broken its silence regarding the untethered iOS 5 jailbreak, and has revealed a new plan for finding future iOS exploits...