Avoid Firmware Updates! iPhone Dev Team has given a loud and clear message to all iOS device users, firmly stating that they would end up losing their jailbreak if they update the firmware.
A tweet from the iPhone Dev Team’s twitter handle hardly 10 minutes back, the team has given some general instructions to all iOS users and jailbreak enthusiasts.

iOS 5.1 GM build passed Apple’s Quality Assurance check yesterday so the Dev Team has has given some vital pointers which iPhone 4S, iPad 2 and older device users must follow in order to secure their current jailbreak on iOS 5.0.1.
“Soon after 5.1 appears on Apple’s public servers (i.e. iTunes starts to offer it), Apple will stop signing 5.0.1 SHSH blobs.
If you have an iPhone4S, the basic rule above is really the only rule: you cannot restore back to 5.0.1 once the 5.0.1 signing window is closed, no matter what (even if you saved your SHSH blobs).
If you have an iPad2 with saved 4.x hashes, you can in fact downgrade to that 4.x but you won’t be able to get to 5.0.1 once the 5.0.1 signing window is closed (even if you saved your 5.0.1 SHSH blobs).
If you have a device earlier than the iPad2, you can downgrade to whatever version you want, as long as you have saved SHSH blobs for that version. You’ll need the assistance of geohot’s limera1n exploit with tools like redsn0w to get into “pwned DFU mode” and bypass the downgrade restriction.”
Incase you are an iDevice owner and haven’t yet jailbreaked your device, we would strongly suggest that you do so. To jailbreak iPhone 4S and iPad 2, use Absinthe for Windows or Mac to jailbreak your device running iOS 5.0.1 and follow our other guide for older iOS 5.0.1 iDevices, Jailbreak iPhone 4 using Corona. Cydia tweak Corona can also be used to jailbreak iPhone 3GS, iPhone 3G and iPad 1.
Once again, DO NOT update your firmware to iOS 5.1 if you don’t want to lose the jailbreak. With the iOS 5.1 GM passing quality check yesterday, stay tuned to TechSliver as will update you as soon the new firmware is released.
Update: It seems Apple is releasing iOS 5.1 today on its iPad 3 event. So I think the release is sooner then we expected. Again, do not rush into it with your iPhone 4S and iPad 2, there is no going back to iOS 5.0.1 from 5.1. Those not into jailbreaking stay tuned and we’ll update you on where and when to download iOS 5.1.

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