
MuscleNerd tweeted today that the upcoming release of RedSn0w will support restoring independent of iTunes, as well as the ability to downgrade to previous firmware, even on A5(X) devices like the iPhone 4S, iPad 2 and iPad 3.
The only caveat so far is that this requires SHSH blobs, meaning your device would have had to have previously been jailbroken on the restored firmware and have run the Cydia package manager on that firmware at least once.

DOWNGRADE 5.1.1 to 5.1 or 5.0.1 with REDSN0W 0.9.b11
REDSN0W 0.9.11b1 -> Download links here: Redsn0w Download Center
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