Those waiting for Absinthe 2.0 are free to update to 5.1.1 (sans unlockers)
@pod2g has recently given the ok, to iOS device users waiting for the upcoming Absinthe 2.0 jailbreak, to update their devices to 5.1.1. Currently, there is a tethered jailbreak available for A4 and lower devices and within the next few days, an untethered jailbreak will be released for all devices except for the Apple Tv 3, 1. Below is a "quick info sheet" which contains a more descriptive list of the features of the upcoming jailbreak.
Keep in mind that if you do update, you will only be able to perform a tethered jailbreak for now(A4 and lower devices only). If you have an A5 device, you will have to remain unjailbroken until the new tool is released. Also, for those of you who require a software/hardware unlock, you should wait until a tool is released or updated to include custom firmware creation for iOS 5.1.1. You will need to restore a custom 5.1.1 firmware in order to retain your unlockable baseband.
It should only be a matter of days before Absinthe 2.0 is released provided there are no unforeseen setbacks. Keep an eye on our site for more information as we receive it!