The iPhone Dev-Team has released RedSn0w 0.9.10b5 which includes another fix for iBooks DRM by planetbeing.
As always, you can simply run the new redns0w over your current jailbreak, just make sure to uncheck Cydia. To fix iBooks and launchctl errors you can also simply install new version of Corona from Cydia.
Here are our step-by-step tutorials that will guide you through all the process of jailbreaking iOS 5.0.1 with sn0wbreeze, redsn0w, pwnagetool and absenthe:
Untethered jailbreak is available for iOS 5.0.1 firmware on iPhone3GS, iPhone4, iPhone4-CDMA, iPad1, iPod touch 3G, iPod touch 4G.
1. If you’re already on iOS 5.0.1 with a tethered jailbreak, you have two even choices:
Run redsn0w 0.9.10 over your current jailbreak (deselect “Install Cydia”)
Install the Cydia package prepared by the chronic devteam. It is called Corona 5.0.1 Untether. (tutorial)
2. If you are not on 5.0.1 yet, update now! If you unlock via ultrasn0w or gevey, make sure you update to 5.0.1 via a custom IPSW! See our guides for sn0wbreeze here. Once you’re at 5.0.1, use the latest redsn0w 0.9.10 to both jailbreak and untether.
RedSn0w 0.9.9b8 recognizes 5.0.1 beta and you don’t have to “point at 5.0 IPSW” any more. Since the IPSW isn’t public, you’ll still need to provide it once to redsn0w (Extra -> Select IPSW).