Both jailbreak tools will be essentially merged together for an upcoming iOS 5 jailbreak. PwnageTool has been a Mac-only jailbreak tool for years that allows iPhone users to preserve their basebands. A future version of RedSn0w will let users create custom IPSW files to preserve the iPhone’s baseband as well…
The benefit of RedSn0w is that it’s available for Windows and the Mac. PwnageTool will continue to be updated when there are untethered jailbreaks released, but RedSn0w will handle every new firmware jailbreak from now on.
The Chronic Dev Team is also working on an iOS 5 jailbreak that will be made available in the form of GreenPois0n. An untethered jailbreak for iOS 5 will be released soon, with a jailbreak for the iPhone 4S and iPad 2 coming out later.
Visit our downloads section to see the past versions of RedSn0w and PwnageTool. We have a video tutorial of how to perform a tethered jailbreak on the iOS 5 GM with RedSn0w.