Oh I see. You were on AT&T with the saved unlockable baseband.
What you could do is go to stock 5.1 that will update your baseband. Then restore back to custom 5.0.1 and jb untethered with redsnow.
Yes. I probably wasn't clear enough about that - sorry. My only concern about doing what you're suggesting is that if I go to 5.1 and get whatever bb comes with that, when I go back to 5.0.1 I might get the signal strength display issue again. Basically what I'm trying to do (and it might be impossible) is get to 5.0.1 AND whatever bb version came with 5.0.1.
I should probably just start a new thread in the Hacks section, huh?