If you're waiting for a carrier unlock for your iPhone running the new iOS4.2.1, you won't have to wait much longer.
Dev-Team member MuscleNerd has tweeted that the Ultrasn0w is working on the new operating system. It's thought it could be released in Cydia as soon as Sunday, November 28.
It will only work on the iPhone 3G and 3GS, running baseband 05.15.04 or earlier. It will NOT work on the iPhone 4, although it's hoped that won't be for much longer.
To use Ultrasn0w, you're phone will have to be jailbroken, using Redsn0w, and you'll find Ultrasn0w in the Cydia app store on your phone.
More details on the iPhone Dev-Team blog here.
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