MuscleNerd, the most vocal member of the iPhone Dev team tweeted:
Official iPhone unlock statement: no unlock will be released until after 4.2.5 or official 4.3 (whichever is last) is out
Currently, Ultrasn0w can only unlock iPhone 3GS and iPhone 3G on iOS 4.2.1 by upgrading the baseband to 06.15.00. The new version of Ultrasn0w is expected to unlock all basebands including baseband 02.10.04 (that came bundled with iOS 4.1) and baseband 03.10.01 (that came bundled with iOS 4.2.1).
Apple had released iOS 4.3 beta for developers of iOS Developer program earlier in the week but its not clear when Apple will release it to the public.
Are you waiting to unlock your iPhone 4? Please let us know in the comments section below.