Do I no longer have to worry about memory management iOS 5 onwards? Also, will all programs written for iOS 4 and earlier versions have to be rewritten to allow iOS to manag
Automatic Reference Counting implements automatic memory management for Objective-C objects and blocks, freeing the programmer from the need explicitly insert retains and releases.
You will worry less about memory management. There is public info available on the subject:
If the spec is too harsh to read, in short, you will need to edit the retain/release code to use ARC, but old programs remain compatible. What you shouldn't do is mix both.