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Apple has finally unveiled iOS 5 at WWDC with a lot of new features and some accompanying products like iCloud and OTA update. iOS 5 will be available for developers in dev center to utilize new APIs and make apps compatible. As there is no drastic change which will require more computing power, all devices compatible with latest iOS update are compatible with iOS 5.

Here is a list of prominent features
- New Notification Center
- Newsstand
- Twitter Integration
- Split Keyboard for iPad
- iMessage
- OTA Update
- Camera Button to be used when screen is locked
- OTA Updates
- iCloud
This is a beta release and will contain bugs. There will be more beta released fixing bugs and making some improvements. This iOS 5 release is not at all intended for normal users. Dev Center
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