Hurray! Dev Team member MuscleNerd has got a video demo up showing a 4th gen iPod Touch with an untethered jailbreak on iOS 4.2.1.
I would imagine the same is on the way soon, or already done, for the iPhone 4. And that we will very soon see new jailbreak app releases from the Dev Team and perhaps geohot and others as well. I’ve been holding off jailbreaking my iPhone 4 while only tethered (which means you must go through the jailbreak process again every time you reboot your iPhone) solutions have been around for the latest OS version. And I expect many others have as well.
So we should see a whole bunch of happy jailbreakers very soon.
News Via: 9to5Mac