After having updated my iPhone 3GS using OTA I had a reboot loop. I never saw that kind of problem.
I would like to point it out that I am register as a developer therefore I am allowed to tests iOS 5.
I could not even get into DFU mode, after a while my screen went off and the itunes recognized the phone in DFU mode.
However, I was not able to load the restore since I was getting the error “The Iphone isn’t eligible for the requested build”.
After a while I have discovered that on my hosts file I add the following line
I have commented out
After that, I was able to recover my iPhone