This past weekend, Apple released iOS 5 Beta 5 for the iPhone, iPad and iPod Touch. The software update, which will probably be one of the last 3 beta releases, was made available as an OTA (over-the-air) update to developers.
If you are a Developer, and are registered with Apple, you can download iOS 5 beta 5 from the developer portal or update your devices over the air. However, the OTA update can only be performed after you delete all your content and settings from the device. Once the device as been wiped the update will automatically start downloading. Apple has made update size much smaller as OTA updates are delta updates.
To install iOS 5 beta 5 using over the air software update, you must first erase all content and settings on your device by choosing Settings > General > Reset > Erase All Content and Settings. Over the air software update can be initiated on devices running iOS 5 beta 3 and later by choosing Settings > General > Software Update.
Be sure to backup your devices using iTunes 10.5 beta 4 or through iCloud backup prior to installing iOS 5 beta 5. After installing iOS 5 beta 5, you can restore your device using either iTunes 10.5 beta 5 or through your iCloud backup.
Apple has started to make software update much simpler by getting rid of discs and updating via independent software downloads.
iOS 5 beta 5 seems much more responsive and snappier than beta 4 but breaks compatibility with some apps which were working in beta 4. The final version is expected to be available as free download later this fall.