The new jailbreak for 5.1.1 is now available
Supports the following ;-
iPhone 3GS
iPhone 4
iPhone 4S
iPad 1
iPad 2 Wifi
iPad 2 GSM
iPad 3 Wifi
iPad 3 3G
iPod 3G
iPod 4G
Apple TV 2
Doesn't support the ATV 3 or the latest iPad 2 with the 32nm chip
Download from here
http://greenpois0n.com/?p=324Jailbroke my iPhone 4S and iPod 4 without any issues on Windows 7 64 bit