This afternoon Apple released iOS 6.1.1 update. This latest update is specifically targeted at the iPhone 4S only, and is expected to fix the battery issues iOS users have been experiencing as well as poor 3G performance and some enterprise issues. Apparently it had gotten so bad overseas that Vodafone released a statement in which they warned their customers who have an iPhone 4S from upgrading their device to iOS 6.1 saying
Some customers may occasionally experience difficulty in connecting to the network to make or receive calls or texts or to connect to the Internet. Apple is working on a solution to their software issue. These connection problems are intermittent.
If you own an iPhone 4S and you aren’t jailbroken yet, feel free to update your software via iTunes after you backed up your device much the same way you do to prep for any jailbreak. Then head over to the evasi0n website where you can download the latest jailbreak version (1.3). The evad3rs team released this series of tweets recently clarifying how you should proceed from here.