Some good news for the jailbreak community was revealed this morning by pod2g on Twitter. It appears that the Chronic Dev Team member pod2g has found a bug in iOS 5 that will make an untethered jailbreak possible.
The tweet can be seen below, and it states that we should not expect a release soon but he is working very hard on it.
Of coarse, right now we are all relying on a Tethered or a Semi-Tethered jailbreak. Guess we just have to be patient for this untethered jailbreak.