MuscleNerd of the iPhone Dev Team has just confirmed via Twitter that his team will soon be releasing an untethered jailbreak for all iTouch devices running iOS 4.3.1.
At the moment, the only jailbreak available for iOS 4.3.1 is a tethered jailbreak released by DjayB6. MuscleNerd also confirmed that the jailbreak is in its final stage, with the team busy in ironing out some bugs.
This new jailbreak will work for the iPhone 3GS, iPhone 4, iPod Touch 3G/4G, Apple TV 2G and the original iPad. However, like the DjayB6‘s tethered jailbreak for iOS 4.3.1, this new jailbreak method will also not support the iPad 2.
iPhone 4 owners who have unlocked their device via Ultrasn0w, are recommended not to update their iOS version and use this jailbreak. If they do so, their baseband version will be upgraded and they will lose their unlock.
The jailbreak is based on an exploit found by i0n1c, and will be available for both Windows and Mac users via Redsn0w and PwnageTool, respectively. Hopefully, the iPhone Dev Team will release the updated version of PwnageTool and sn0wbreeze within a week or so.