As it has been confirmed now that Absinthe v2.0 is almost ready, Pod2g and MuscleNerd have just signaled that all the jailbreakers waiting for next jailbreak can safely upgrade to iOS 5.1.1. However, there is a clear warning from Pod2g for the users who are not on official carrier and who use either software or hardware based unlock for their devices. Unlockers must for a green signal from iPhone Dev Team.
At this stage we can divide the users into three categories:
1) The Users Who Rely on Unlock:
If you rely on unlock, esp the iPhone 4S users, you must not upgrade to iOS 5.1.1. You are advised to wait for Redsn0w with iOS 5.1.1 untethered jailbreak support which will allow you to cook the custom firmware while keeping the current baseband intact. Even if you are running a Gevey based unlock, you should also wait for the next update.
2) The Users with Already Jailbroken Devices:
If your device is already jailbroken tethered or untethered, you can go any side. Either you can keep your existing jailbreak until iPhone Dev Team releases absinthe 2.0 or you can install iOS 5.1.1 if you can live without jailbroken device for few days.
3) The Uses who Don’t Have Jailbreak:
If you don’t have any type of jailbreak right now on your device, you can safely restore fresh iOS 5.1.1 on your device.