iOS 4.1 Jailbreak question

[dilbaggins]

Trying to jailbreak my iOS 4.1 3G and had a couple of questions:
1.) Is the redsn0w jb relatively stable (in other words, is their any flaws or could my phone spontaneously not turn on and then i'm screwed?). I heard redsn0w is in development still for 4.2 but i'm not sure about how the jb is for 4.1
2.)I've had friends who have jailbreaked their iPod Touch's and they have said that everytime you turn the device off the jailbreak goes away and you have to re-jailbreak it. Is this true?
3.)During jailbreak, can you lose your contact information?
Thanks!

 

[eastercat]

2. If you have a tethered jb, you have to connect it to the computer whenever you restart it or turn it off. Untethered jb doesn't have this requirement.
3. When you're installing official or unofficial software, there's always the risk of losing your contacts; most people don't lose their contacts. Is it that hard to have a backup of contacts that I presume are important to you?