As we know Apple announced iOS 4.1 and iOS 4.2 last week to solve multiple issues identified in iOS 4. Most likely Apple will release iOS 4.1 on September 8th. While iOS 4.1 is yet to be released, iPhone users have already started asking for the jailbreak possibilities. According to few updates, Comex, creator of the first userland jailbreak "jailbreakme" is currently in possession of two exploits to jailbreak iOS 4.1 and 4.2.
MuscleNerd, member of Dev-Team also confirmed while replying to a user that Comex will release another userland jailbreak for the iOS 4.1 if he is able to pull "trifecta". However, if he fails to do so then an iBoot or a Bootroom jailbreak tool will be released.
Those of you who don't know the difference between both exploits, the explot used by Comex in Jailbreakme is based on iOS while the second explot being referred here is based on hardware (bootroom) inside iPhone.
We'll keep you posted off course. Please stay away from iOS 4.1 till proper jailbreak and unlock tools arrive. Stay tuned for more updates.
Update1: Jailbreak iPhone 3GS (Old Bootrom) on iOS 4.1 with PwnageTool
Update2: Jailbreak iPhone 3G, iPod Touch 2G on iOS 4.1 with Redsn0w 0.9.6
Update3: Download Sn0wbreeze 2.0 to Jailbreak iOS 3.1.x, 4.0.x, 4.1 on iPhone 2G, 3G, 3GS (Old + New Bootrom) & iPod Touch 1G, 2G (MC + Non-MC), 3G on Windows