I did this as a test with my iphone 4 with 5.0 long after the window was closed. And put 5.0.1 on with the same method (since I would have to restore with this file in the future, i might as well see if it works now and is fully compatible with the JB vs a stock install then JB)
You've done, to the best of what I can tell by your responses, what I did to make mine. The only diff, is mine isn't verizon, its att.
Here's websites (you can search for more) about using ifaith to basically do the same thing on windows.
http://www.ijailbreak.com/how-to/downgrade-from-ios-5-0-1-to-ios-5-0-using-ifaith/
http://www.engadget.com/2011/12/05/ifaith-v1-4-allows-downgrade-to-ios-5-0-jailbreakers-dream-com/
If it were IMPOSSIBLE, i doubt you'd find so many people talking about how to do it.