Those of you who have been waiting for iPhone 4 unlock on 3.10.01 and 2.10.04 basebands may not be pleased as the iPhone Dev-Team has announced that no unlock will be rolled out until and unless iOS 4.3 or 4.2.5, whichever is last, has been released. The announcement comes in the form of a tweet from MuscleNerd of the iPhone Dev-Team.

The Tweet:
Official iPhone unlock statement: no unlock will be released until after 4.2.5 or official 4.3 (whichever is last) is out
With the launch of the iPhone 4 on Verizon, there are now two variants of the iPhone 4, that being CDMA and GSM having completely different baseband OS and it remains to be seen whether or not the iPhone Dev-Team tries unlocking the CDMA based Verizon iPhone, so that it works on other networks as well. We shall definitely update you as any new developments come in.