Few minutes ago, MuscleNerd has just announced a significant progress occurred to the new Monte technique, as the dev-team succeeded to port Monte back to iOS 4.1 Kernel (SHSH blobs).
Ported Monte back to 4.1 kernel (SHSH blobs). Next step: porting it forward to 4.3beta!
Think of Monte as a "green" jailbreak. It recycles (for example) 4.1's exact JB exploit on 4.2.1 :) Waste no exploits.What that means? Dev-team has added a new feature (Monte) to Redsn0w which allows you to untethered jailbreak without the need of iOS 4.2b3 SHSH blobs, you will need iOS 4.1 SHSH blobs. Monte is not an exploit, it's a technique based on using the iOS 4.1 exploit into iOS 4.2.1, so releasing it now before the official release for iOS 4.3 won't waste any exploits.So the dev-team may release it soon.