Apple has seeded developers with the first version of iOS 5.1 Beta and Xcode 4.3.
iOS SDK 5.1 provides support for developing iOS applications and includes the complete set of Xcode tools, compilers, and frameworks for creating applications for iOS and Mac OS X. These tools include the Xcode IDE and the Instruments analysis tool among many others.
With this software you can develop applications that run on iPhone, iPad, or iPod touch running iOS 5.1. You can also test your applications using the included iOS Simulator, which supports iOS 5.1. There are two Xcode iOS SDK 5.1 images, one for installing on a Macintosh computer running Mac OS X 10.6.7 (Snow Leopard) or later, the other for installing on a Macintosh computer running Mac OS X 10.7 (Lion).
BGR provides some release notes which presently list some known issues but are otherwise unrevealing.
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i have it dled but I want to wait for the release notes to come up and see how bad the bugs are as they say theres no reverting and i dont want to be stuck on it for 2 weeks if the bugs are horrible.
If this is your comment, then you're exactly the kind of person who SHOULDN'T be downloading a beta.