iPhone Dev Team has now released PwnageTool 5.0.1 for Mac users who want to jailbreak iOS 5.0.1 untethered on Mac and preserve iPhone 4 or 3GS baseband.
Baseband has to be preserved so iPhone user doesn’t lose the unlock. PwnageTool 5.0.1 for Mac users helps you save your baseband. Baseband preservation applies in the scenario if your phone is software unlocked which means if you are rely on Ultrasn0w you need your baseband. If you have an officially unlocked iPhone 4 or factory unlocked iPhone then baseband preservation isn’t required. You can go ahead and jailbreak 5.0.1 untethered and not worry about losing your unlock.
PwnageTool will allow you to jailbreak 5.0.1 iOS untethered on Mac while preserving the unlockable baseband. First create a custom 5.0.1 IPSW using PwnageTool 5.0.1.Once done, simply connect your device to iTunes, press the alt key and click on “Restore”. Select the custom firmware file you just made and restore your iPhone. Keep in mind that the custom firmware you made to jailbreak 5.0.1 iOS untethered on Mac will automatically be jailbroken once it’s loaded on your device.
PwnageTool and redsn0w are now similar in functionality, it allows you to create custom firmware while preserving your baseband. PwnageTool is only for MAC users and works like Sn0wbreeze.
Just yesterday Pod2g’s untethered iOS 5.0.1 jailbreak was released through redsn0w 0.9.10b1 and the Corona Cydia package. The jailbreak allowed all A4 based devices to be jailbroken. You can now enjoy iOS 5.0.1 untethered Jailbreak using redsn0w (PC) or Pwnagetool (MAC).