iPhone Dev Team Successfully Ports Untethered Jailbreak Back to 4.1 SHSH Blobs

Late last month, the iPhone Dev Team officially released their jailbreak “backup plan”,which was released because Comex was not able to meet his Christmas ETA.
The new jailbreak method, called “Jailbreak Monte” used your saved iOS 4.2b3 SHSH blobs to give your iDevice the first untethered jailbreak on iOS 4.2.1.
The method required you to have an Apple developer account to get a hold of the 4.2 beta 3 IPSW (although the firmware could be pirated, the iPhone Dev Team is strictly against piracy).
Sunday, via Twitter @MuscleNerd of the iPhone Dev Team announced that the untethered jailbreak Monte has been successfully ported back to the 4.1 kernel (SHSH blobs) for iOS 4.2.1.This means that you will now be able to use your saved iOS 4.1 SHSH blobs to get an untethered jailbreak on iOS 4.2.1…

Additionally, the Dev Team is now working on porting it forward to iOS 4.3 beta so that we may all enjoy an untethered jailbreak on iOS 4.3 as well!
There wasn’t any release date announced for the redsn0w 0.9.7 beta that would make use of your 4.1 SHSH blobs, but the Dev Team’s track record speaks for itself. I’m sure we can expect it soon.
And don’t forget, the Chronic Dev Team also has an untethered jailbreak that they demoed earlier this week. It’ll be fun to see who releases it first! Bring on the untethered goodness!
Who’s ready?