The iOS 6.1.4 has just been available only for the iPhone 5, iOS 6.1.4 has a unique change to update the audio profile for the speaker of the iPhone 5. For now the update is only available for the iPhone 5, we'll keep you posted if that changes.
For obvious reasons, jailbreakers should stay away from this update. The evad3rs have openly stated that they have no plans to jailbreak iOS 6.1.3, and therefore a minor update like iOS 6.1.4 wouldn’t be significant enough to change their minds. It would be more time-worthy to save exploits for major future firmwares, like iOS 7. iOS hacker p0sixninja has also openly stated that he would rather wait for iOS 7 to use his own exploits as well.
There is no way to downgrade the firmware of an iPhone 5 at this point in time, so if you're happily jailbroken, stay at the firmware you are at. If not, feel free to update.
