The Dev-Team has just released RedSn0w 0.9.8b7b to jailbreak the iOS 5 beta 7 firmware. While Sn0wBreeze v2.8b7 was updated to support jailbreaking the iOS 5 beta 7 firmware yesterday, RedSn0w is a cross compatible jailbreaking tool that supports both Mac OS X and Windows operating systems.
Note: This is a tethered jailbreak, meaning that each time you want to reboot you will have to plug your iDevice into your computer and re-run RedSn0w.
You can read the official word from the Dev-Team below:
Update #7b: About 12 hours after we released redsn0w 0.9.8b7 with some improvements for iOS5b6, Apple went and released iOS5b7 (what are the odds of that?!?). Even though that redsn0w could still jailbreak iOS5b7, you needed to point it at the iOS5b6 IPSW to do so. Today’s redsn0w 0.9.8b7b lets you point redsn0w directly at the iOS5b7 IPSW instead.
We’ve also added some overall improvements for old-bootrom 3GS owners (where the 24kpwn exploit applies): on those devices, you can tell redsn0w to untether 4.3.5 and lower, or iOS5b7. Old-bootrom 3GS owners can once again choose custom logos, and/or verbose booting (for the really nerdy iPhone3GS fans out there!). And it allows 4.3.4 or 4.3.5 users to use ultrasn0w again (if they have a compatible baseband).
Last but not least, we fixed some lingering Verizon iPhone4 4.2.10 JB issues.
As you can see this release of RedSn0w adds quite a lot of new features while jailbreaking older generation devices such as the iPhone 3GS. Now, just like Sn0wBreeze, you can actually Jailbreak the iPhone 3GS (old bootrom) untethered running anything up to the iOS 5 beta 7 firmware.
If you would like to download RedSn0w 0.9.8b7b for Mac OS X or Windows you can go to the iJailbreak Downloads Section. Additionally you can use one of the download mirrors below:
Mirror 1: Download RedSn0w 0.9.8b7b for Mac OS X
Mirror 2: Download RedSn0w 0.9.8b7b for Windows