I just finished jail braking my 4S. I followed the steps in box one, including:
If you are feeling up to it, the best way to proceed is to backup your device (on iCloud or iTunes), use iTunes to restore a fresh install of 5.0.1 (make sure you read the fist part of this preparation to know whether you can do this or not!) and then jailbreak. Once the JB is done in a few minutes you can then restore your initial device backup and all your apps and settings will be put back as they should be!
Start to finish (backup in iTunes, factory restore, reload to new, run absinthe, set up Cydia, restore backup) took about 20 minutes.
Thanks f4780y for this excellent tutorial!!!
Mike
You are very welcome Mike. Glad to have you over on the dark side
Enjoy your jailbreak.