Finally upgraded the iPad 1 to iOS 5.0, installed all my jailbreak tweaks first, and then installed semi-tether and gave it a test run, and it seems to be working fine.
Normal power-off(shutdown), restarted normally (prob 30secs)..... regular stock apps working..(the jailbreak app(cydia) not working, which is normal).....so i proceeded to boot tethered now(DFU/redsnow).....rebooted fine, to a working jailbreak....but i think i had to do a respring, because the screen was weird(apps was spaced out), but after the respring, everything is working how it should be. Installed a few more tweaks, respringed a few more times and i don't see a problem. So it should be good to go.
I didn't checkmark the safari fix yet(in semi-tether app)....will do and report back if i remember.