We have both good news and bad news for those waiting for iOS 4.1 jailbreaking tool. Good news first – @Pod2G, member of chronic dev and founder of 24kpwn exploit has already got an exploit in iOS 4.1 which may be used to get jailbreak tools for iOS 4.1 or iOS 4.2
Note: All those who have already jailbroken their iDevices must stay away from iOS 4.1 upgrade until iPhone dev team comes up with jailbreak & unlock tools for iOS 4.1.
Now, the bad news – Musclenerd and iPhone dev team have asked jailbreakers to stay away from iOS 4.1 as its trap to flush out all exploits to block jailbreak & unlocks before next iOS 4.2 is released. Now that @Pod2G has found a tethered bootrom exploit, we might not have to wait till iOS 4.2 release. But then, not all exploits turn into successful jailbreak tools.
Stay tuned for the latest updates.