I don't know just the whole process I guess but you can always revert back to iOS if need be, right? Anyway I didn't think there was a JB of the latest iOS.....
Yes it is really not that hard, the last JB for 5.1.1 was very easy, basically plug and play. Cydia acts as your App Store, just take it slow on what you add and tweak and it really is a great experience.
However you are correct there is no JB for the 5 yet, but i think once iOs 6.1 drops we will see it.