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While we wait for Apple to release iOS 5.0.2 to fix the remaining bugs that is affecting battery life, it has seeded iOS 5.1 to developers of iOS developer program.
iOS 5.1 beta (build 9B5117b) is available for iPhone 4S, iPhone 4, iPhone 3GS, iPad 2, iPad 1, 3rd gen iPod touch and 4th gen iPod touch.
It isn't clear what new features and changes Apple is planning to introduce in iOS 5.1 as Apple hasn't provided any details in the release notes.