Apple is releasing the latest build of iOS 5 (build 9A5259f) to developers. iOS 5 Beta 3 is one step closer to completion. It may still be a while, as it's still in beta status. Normally, it's not until it hits Gold Master (GM) status that we know a public release is just around the corner. So if you're a developer, go ahead and download it now. Don't worry, it probably won't set your phone charger on fire, as one developer said happened to him.
iOS 5 is set to release this fall and adds several new features to Apple's mobile OS. Meanwhile, Apple plans to release the latest build of OS X, Lion, this month. It's widely-believed that it's going to arrive this week.