I now have a 4S running 5.0.1 with an untethered Jailbreak, thanks to the Dev Team & Chronic Dev "Dream Team" and Absinthe
SBSettings for iOS5 is great. Also installed my other main JB apps: BrowserChanger so I can use iCab Mobile as the default browser instead of Safari, and Intelliscreen... this time IntelliscreenX (ISX). ISX rocks. The iOS5 Notification Centre is far better than notifications on iOS4 and below... and ISX is far better than iOS5's. I now have Mail, Twitter, Facebook, and RSS feeds in my Notification Centre, plus can access the lot from the Lock Screen. Awesome.
Don't think I'll bother with my iPad, though. I don't use Notifications on the iPad, and don't need the SBSettings toggles. Not worth doing for BrowserChanger alone. The only other thing I ever Jailbroke the iPhone for before was tethering... which is irrelevant for the iPad (& not needed on the iPhone now with the new O2 tariffs).
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... and I've now actually uninstalled SBSettings, having found that IntelliScreenX has its own toggles. Nice.