iH8sn0w, the creator of sn0wbreeze released sn0wbreeze-v2.8b3 for iOS 5 beta 2 jailbreak today. Similar to previous version of sn0wbreeze-2.8b2, sn0wbreeze will allow you to jailbreak iOS 5 beta, but still tethered using iBooty.

While Untethered jailbreak for iOS 5 beta only available for iPhone 3GS old bootrom. sn0wbreeze doesn’t hacktivate iOS 5 beta, so you must have UDID registered to iOS Provisioning Portal.
Details of sn0wbreeze-v2.8b3:
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