We have been waiting for an untethered jailbreak for iOS 5 since it’s release. There is now a semi-tethered jailbreak using Ac1dsn0w, but nothing compares to not having to sync when you restart your phone to regain use of your most important apps.
Luckily a hacker named Pod2g has been working towards the cause and released a preview video showing an untethered jailbreak on an iPod touch. No details on when it is going to be releases, if ever, but at least we know it may be possible. Check out the video after the jump.