Sn0wBreeze 2.8b8 can help jailbreak and unlock iOS 5
If for some reason you don't want to use redsn0w 0.9.9 to jailbreak your iOS 5, here is a good alternative utility - Sn0wBreeze 2.8b8. It can perform a tethered jailbreak for iPhone 3GS, iPhone 4, iPad 1, iPod Touch 3G and iPod Touch 4G.
As usual it will preserve your baseband (modem) version for unlock with ultrasn0w 1.2.4 or Gevey Sim.
You can download Sn0wBreeze 2.8b8 here.
UPDATE: Sn0wBreeze 2.8b8 step-by-step jailbreak and unlock tutorials:
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