With the iPhone Dev Team updating their popular Redsn0w jailbreak tool to include a method of downgrading A5-powered devices, it provides a perfect opportunity for those who may be sitting on the latest firmware with an iPad 2 or iPhone 4S to roll back to 5.0.1 once again in order to benefit from an untethered jailbreak. With pod2g closing in on his untether for Apple’s latest firmware and testing against the latest devices going all well, the need to roll back and jailbreak iOS 5.0.1 could be temporary, but the fact remains that a lot of users will benefit from this.

A Chronic Dev-Team member has just tweeted the news that Absinthe, the tool used for the jailbreak of A5 devices (iPad 2 and iPhone 4S) on iOS 5.0.1, has just been updated to version 0.4.

Ladies and gentlemen, boys and girls, stop what you are doing, go grab your A5 Apple device and prepare to receive the gift of liberation. For the last nine weeks all eyes have been firmly fixed on the individual blogs and Twitter accounts of the teams involved waiting patiently for day when the good news will appear.

After a couple of months anxiously waiting, the very first iOS 5 untethered jailbreak arrived in a blaze of glory just two day ago, and techies far and wide running Apple’s latest mobile OS duly obliged to the calling of the iPhone Dev Team’s ever-reliable utility.