iPhone Dev Team member Musclenerd has revealed that a new update to Redsnow will be released by Monday at the earliest with lots of new features. Generally speaking Redsnow will pretty much jailbreak your device for you now, you don't need to check which version your iPod/iPhone/iPad is running and download huge firmware files. Redsnow will take care of everything for you.

No IPSW file downloads should be a great thing for all of us with iDevices. It can be a pain downloading and first finding the correct IPSW file for your device and then going through the jailbreak process. After the update, Redsnow will identify your device by itself, download the files it needs from the Apple servers and jailbreak your device. The files will be cached to your hard drive for future use. Redsnow will also identify wether you need a tethered or untethered jailbreak automatically. The program can be also be used to backup your SHSH blobs to Cydia.

Redsnow can be used to jailbreak your iPod touch, iPhone and iPad on any firmware using this new update. If you have an iPad 2, you can only jailbreak it using JailbreakME 3.0 in iOS 4.3.3 and beta versions of iOS 5 can not be jailbroken using this process either. You will need to manually point Redsnow to the Beta firmware file.

This is great news for all Apple users, as for iPad 2 owners, don't despair, 5 exploits have been found in the A5 chip running your tablet and soon enough you should be able to jailbreak your device on iOS 5 once it is launched. For now though you'll need iOS 4.3.3 and Jailbreakme 3.0.