Basically the iFaith v1.4 has a similar utility with TinyUmbrella 5.10.00 which is to save SHSH Blobs firmware, however there are several areas that separate between the two. Firstly iFaith is for Windows only tool, and it is able to save SHS Blobs for specific firmware you use, and can dump SHSH blobs directly on to your physical iDevice.
Here is what iH8Sn0w has to say about its iFaith v1.4:
iFaith allows you to dump SHSH blobs directly on to your physical iDevice. Now the difference between other SHSH saving programs like TinyUmbrella is that iFaith allows you to save SHSH blobs for a specific firmware you are running even if Apple is not currently signing that firmware. In most cases, using iFaith is also a more reliable way to downgrade your iDevice.If you are interested, you can donwload iFaith v1.4 from the following download link:
Video: How to save SHSH Blobs Of iOS 5.0.1 and iOS 5.0 firmware for iPhone, iPod Touch And iPad
Hope you'll find this post useful!