Future Redsn0w 0.9.7 Update Will Allow You to Untether iOS 4.2.1 Jailbreak Using iOS 4.1 Beta

Jailbreaking Guru, MuscleNerd of The iPhone Dev-Team, has successfully ported “Monte” back to iOS 4.1. This is great news!
This time you won’t need your 4.2b3 SHSH blobs saved on Cydia to perform a untethered jailbreak.

With the next new Redsn0w 0.9.7 update (hopefully for both Windows and Mac), you will now be able to use your iOS 4.1 IPSW files to succeed in the  iOS 4.2.1 jailbreak.