Here is a great news by SHERIF HASHIM the BB crasher of iPhone dev team has reported that he has made a progress in crashing the Baseband 5.14 (New baseband on iOS 4.1)

According to his previous tweets he mentioned that nearly about 500 posts out of them 495 were asking about the Baseband. So here is the news by him:

Sherif Hashim tweet

And now Veeence is mentioning the discovery of new exploitable baseband crash, and confirming again about ETA for the unlock which is very likely be released after iOS 4.2 official release by November, so that it will be able to unlock both basebands of iOS 4.1 and 4.2.

So, you people keep in touch with us for more latest news about the going war between dev teams πŸ˜€

Update x1:

The iPhone Dev Team member MuscleNerd, replied to one of his follower on twitter and confirms that ultrasn0w can unlock iPhone 3GS and iPhone 3G on iOS 4.1 and iOS 4.2 with 05.14.02 baseband.

Also check out How to Unlock iPhone 3GS, iPhone 3G on iOS 4.1 & iOS 4.2 ( 05.14.02 ) with new version of UltraSn0w.