Details are scarce; however, it appears that the untethered jailbreak may also work on at least the iPhone 4S as well.
iH8Sn0w just tweeted: @winocm does this mean I have to bust out my camera and shoot an untethered 7.1 A5 boot? :P
No word yet on when or whether the jailbreak will be released. Please follow iClarified on Twitter, Facebook, Google+, or RSS for updates as they become available.