iH8sn0w has just released Sn0wbreeze 2.6.1 for iOS 4.2.7 untethered jailbreak on Verizon iPhone 4. Since i0n1's payload is not easily reversible, so this build of Sn0wbreeze make use of pod2g's + posixninja's kernel exploit for iOS 4.2.7 untethered jailbreak on Verizon iPhone 4. However for iOS 4.3.2 jailbreak on all other iDevices (except iPad 2), Sn0wbreeze 2.6.1 still rely on i0n1c's untethered exploit.
The procedure to jailbreak iOS 4.2.7 and iOS 4.3.2 on all supported iDevices is exactly similar to the previous release. Just download Sn0wbreeze 2.6.1 from the link below and follow step-by-step guide here.
Download iTunes 10.2.2 for Windows
Download Sn0wbreeze 2.6.1 for Windows | MediaFire Mirror
Download iOS 4.2.7 for Verizon iPhone 4
Download iOS 4.3.2 IPSW for iPhone 4/3GS, iPod Touch 4G/3G & 1st-Gen iPad