As we were telling you recently, the DevTeam Chronicle is on track to offer an untethered jailbreak solution in iOS 4.2.1 shortly. Today, this work seems to have taken a significant lead since this group of hackers published a video on Youtube showing an effective jailbreak under the latest iOS firmware concerned. Everything would be almost ready. According to the hacker pod2g, the solution will be published within a week (certainly through an update of the GreenPoison tool). The video in the sequel.
React on the forum.
(Thanks Dondoozat for the info)