Backup the SHSH Blobs of iOS 4.1 before upgrading to iOS 4.2.1 so that you can recover iPhone or iPod Touch in future if something goes wrong with the upgrade.
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iH8sn0w has just released a new version of the Sn0wbreeze jailbreaking application. We had told you yesterday that a new version of the Sn0wbreeze application is expected to be released today.
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