If you own an iPhone 3GS or 4, now's the best time to do so, since Apple will sign iOS 5.0.1 installation requests and there's no need to try to spoof the APTicket system yet. (I think there's also no way to do so either. I kept trying to use Cydia and TinyUmbrella as the SHSH blob host, and it kept failing on me - error 1600. Ssooo, if you're hitting error 1600, chances are, you have gs.apple.com pointed to localhost or Cydia in your hosts file, and you should either a) remove that line in your hosts file, or b) run TinyUmbrella and uncheck that box that says to set hosts to Cydia upon quit. )
iOS 5 is surprisingly shiny. And wifi syncing? All these nifty features everyone else has been using and I haven't had! But now I can play with them too! Wheee~ ::small squeals of joy::
Now slowly reinstalling everything onto the phone. iTunes is handling a lot of it, but a good amount of the jailbroken stuff has to be installed by hand.