An updated version of Redsn0w has been released today which brings support for updated .ipsw file for iPad 1G iOS 5 Beta 6.
Just recently, we have reported that the first beta of iOS had been successfully jailbroken. Now, Redsn0w, one of the most well-known jailbroken tools by the iPhone Dev-Team, has been updated (for Mac only) to work with iOS 5. As of yet, only tethered jailbreak is possible, meaning that you have to connect the device to a computer when powering it on, in order to boot it into a jailbroken state.
Just a couple of hours back, iPhone hacker MuscleNerd tweeted to say that he thinks that iPhone Dev Team has found a way to extend current untethered jailbreaking tools to work on all A4-processor based iOS devices.