Yesterday, Apple announced that it will release iOS 4.3 on 11 March – the same day when the company will start shipping iPad 2 in many countries. This is the right time when Dev Team can release the unlock for iPhone 4 – iOS 4.1 (BB -2.10) , iOS 4.2.1(BB-3.10) and probably for iOS 4.3 (BB-4.10). According to the tweet from @MuscleNerd and earlier by @Sherif_Hashim (Baseband Hacker), the vulnerability for the unlock has been found and will be implemented soon. The DevTeam (@MuscleNerd) is working on invoking the same commands on iOS 4.3beta3 which is a clear indication that Unlock may arrive next week in addition to next firmware release (iOS 4.3).
The Dev Team should have unlocked all the Baseband up to 3.10 but not looking forward to release it now as there is a chance that Apple may fix the loop hole in iOS 4.3 update. Once, Apple release the firmware on March 11, we can expect an unlock too. It seems that DevTeam will not give an ETA because the recent unlock situation is self defined.
We will keep you updated!