iH8sn0w released his own jailbreak utility for the iOS 5.1.1 untethered jailbreak. The tool not only is updated to support iOS 5.1.1 untethered jailbreak, but has major other updates too.
However, it doesn’t support the update to iOS 5.1.1/9B208 for iPhone 4 GSM. Apparently, there isn’t the necessary untether payload.
And unlike Absinthe’s jailbreak, it doesn’t support A5 devices. And for those on A5 devices, they suggest,
A5(X) Baseband Preservation/Hacktivation?
For those running A5(X) devices and need to preserve your baseband, there is nothing you can do at the moment. For those wanting to hacktivate, the only advice I can give is to buy the carrier’s SIM (the one its locked to obviously) on ebay. The SIM does not have to be active with the carrier to activate the phone.