If you are on a jail broken earlier version of iOS and have been thinking about an iOS 5.1.1 jailbreak, you only have up until iOS 6 is released to upgrade to iOS 5.1.1 and jailbreak.
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I've kept putting off going from 5.0.1 onward. Anyone think there is a compelling reason to do it now? I don't, but that could be because I just haven't taken off the blinders for some time.