The iOS 4.3.1 custom bundles need to be used along with PwnageTool 4.2, Universal Ramdisk Fixes and tetheredboot utility to jailbeak iOS 4.3.1.
Currently, the jailbreak is tethered for iPhone 4, iPhone 3GS (new bootrom), iPod Touch 4G, iPod Touch 3G and iPad, while the jailbreak is untethered for iPhone 3GS (old bootrom). Cydia also seems to be working fine on iOS 4.3.1. It also support hacktivation.
Please note that jailbreaking and unlocking your iOS device may void its warranty so proceed with caution and at your own risk. Please don’t forget to backup your iOS device before you proceed. You can refer to this post for instructions on how to backup your iOS device.
It remains to be seen when iPhone Dev team or Chronic Dev team will release a untethered jailbreak for iOS 4.3.1. We’ll let you know if there are any further updates so stay tuned here at iPhone Hacks or join our Facebook Fan page or follow us on Twitter or subscribe to our RSS feed.
As always, don’t forget to drop us a line to let us know how it goes.