Eh hem!! Lemme try to help ah
1) u can't downgrade it as u din not have a SHSH blobs for 4.3.3 version of ur ipad2 saved. Blobs can only be save when you jail broken it.
2) the latest untethered version of JB for ipad2 is 4.3.3 and there's no later version of JB, which meaans u can't JB it now since ur iPad delivered in IOS 4.3.5 you might as well upgrade it to IoS since u're kinda stuck in between and can't even JB it at all since blobs are unique to every iPad, means u can't copy other iPad blobs and put it in ur iPad, it doesn't work this way. Google more about this SHSh blobs for more information.

Good luck waiting for the IOS5 jailbreak I'm using IOS5 and it is worth upgrading with all these new features implemented. Free apps are more than enough currently..

+1 Well said, buddy

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Added on November 17, 2011, 9:31 amI think there's a lot of people confuse between IOS5 and IOS5.0.1. Apparently, both appear to be the same, but there are minority experiencing bugs with IOS5, so Apple decided to release IOS5.0.1 as a bug fixed version.
This means that whoever have not upgraded to IOS5.0.0 a.k.a IOS5 wont be able to upgrade to this version anymore as Apple no longer releasing the blobs, but you can alwis upgrade to IOS5.0.1, no problem.

Hope my statement make your mind clear

This post has been edited by eikozai: Nov 17 2011, 09:31 AM

Erm, not 'choose to upgrade IOS5.0.1', but u have no choice but to go IOS5.0.1 if you have not upgraded to IOS5 before, either you din upgrade or u have not own one ipad before. Because Apple have stop signing the IOS5.0 blobs, but IOS5.0.1 would be the same function, just that they fixed bugs. For easy understanding, get a picture in ur head that every version is a different blobs(one kinda file from Apple).

IOS5.0 and IOS5.0.1 JB might be different, i'm not sure because until this date there's no JB for IOS5 above yet for ipad2.

Quick answer for ur quick question here. YES.

ipad2 security is different from other iDevices, so it doesn't have any JB after iOS4.3.3 yet, iOS4.3.3 was the latest so far.

Wondering the same too. But people are just too tired to go through all the pages and line by line, so they think its faster to wait for someone reply below them~ everyday answering the same question too~ LoL~!!

There's a lot of enhancement explore more

Lol.. i doubt that~ even if he make it, i wonder if its stable or not since no body using it at iOS5 now.. haha~ better not try until we got some guinea pig out there

LoL..~!! Stars can be gain when u spam enough posts ma~ Azraeil oso a lot of stars~ haha..

Dun feel bad ah, azraeil, i'm jus kidding not to say u not gud or scammer or wat Just to make ppl look on ur STARS !! haha.. Better forget about that fella, look like a serious scammer, those proffesional oso cant crack/hack on A5 chipset, u think he can do it?? LoL~

Hopefully this was right !!!! Wahahahaha.. !!