Early reports say that the new release does indeed fix the iOS 5 battery drainage bug, bring Siri improvements, and brought Multitasking gestures for the original iPad as promised by Apple changelog.
Great, but don`t forget if you`re planning to jailbreak your iPhone, don’t upgrade to that version since the iOS bug which was discovered by hacker Charlie Miller is fixed by Apple in that release which means tethered jailbreak still.
Official download links from Apple:
iOS 5.0.1 for iPhone 4S
iOS 5.0.1 for iPhone 4 (GSM)
iOS 5.0.1 for iPhone 4 (CDMA)
iOS 5.0.1 for iPhone 3GS
iOS 5.0.1 for iPad 2 WiFi
iOS 5.0.1 for iPad 2 GSM
iOS 5.0.1 for iPad 2 CDMA
iOS 5.0.1 for iPad
iOS 5.0.1 for iPod touch 3G
iOS 5.0.1 for iPod touch 4G