Yesterday Apple dropped iOS 5 beta 3 to developers and right away it was jailbreakable with redsn0w. The problem was a sandboxing issue that caused app store apps not to work ( ih8sn0w released a new version of sn0wbreeze with an updated kernel, hence no issues ).
Anyway, the iPhone DevTeam updated redsn0w, and the new version should fix any issues with the App Store. If you are already jailbroken you can just use it to boot tethered.
If you don’t know how to use redsn0w, check out our previous tutorial. Just make sure you point it to iOS 5 beta 3.
NOTE: Developers ONLY
NOTE: To use redsn0w you will have to restore to stock first – which means updating your baseband so, unlockers STAY AWAY.