You can now Jailbreak an A4 iOS device Untethered. This includes the iPhone 4, iPod Touch and iPad 1.
A5 devices (iPhone 4S and iPad2 coming soon)
Be warned though that once you Jailbreak you will not be able to use the “Over the Air” updates now available in iOS5.
I personally am not Jailbroken any more as I love the stability and ease of being able to update whenever I can.
As a devoted iOS fan and still a fan of Jailbreaking I will cover how to Jailbreak on my standard Jailbreak Page HERE as soon as I get the chance to update.