Just yesterday we brought you news that the latest update to the jailbreak took redsn0w, which should be coming soon, would allow users to roll back to an older version of iOS. This was good news, because it meant that those who had upgraded to iOS 5.1 but wanted to jailbreak their devices could downgrade to a jailbroken iOS, rather than waiting for the jailbreak of iOS 5.1 to be ready.

Now, though, it looks like the need for that new version of redsn0w might not be as pressing as originally thought. Jailbreak developer pod2g tweeted this afternoon that he had an untethered jailbreak of iOS 5.1 running on his new iPad. After a little more work, he plans to test his method on the recently-released iOS 5.1.1. With luck, the exploits used to jailbreak iOS 5.1 will work just as well on the newer version. Check out pod2g’s tweet below:

This follows another tweet last week wherein pod2g posted that he’d gotten an untethered jailbreak of iOS 5.1 running on his iPhone 4. According to another tweet posted just a few minutes ago, the fact that his jailbreak runs on the iPhone 4 and the new iPad means that it will run on any iOS device. Unfortunately, though, his jailbreak may not work on the third-generation Apple TV

Now, the fact that pod2g has an working jailbreak doesn’t mean that you should go upgrade your iOS version just yet. For one thing, there’s still the process of confirming that the jailbreak works on iOS 5.1.1. Fortunately, though, there’s a good chance it will, since i0n1c’s unreleased jailbreak did.

Once it’s confirmed that the jailbreak works, there’s still the process of creating a public tool (like redsn0w or Absinthe). In other words, it’s likely to take a little while longer. That means that we still have to be patient. Fortunately, though, it seems that we won’t have to be quite as patient as it looked like we might.

Are you looking forward to upgrading to iOS 5.1? Let us know what you think in the comments.