Today Apple released 4.3 of iOS.
Currently no iPhone hacker has announced a jailbreak or unlock for this firmware version. However one hacker has noted that the iPhone 4 unlock is taking longer than expected ... so at least they are currently working on an unlock.
As for a jailbreak ( required in order to install an unlock ), my guess is that one will come soon, possibly within two weeks. But note that this is just a guess, based on comments/hints that hackers have made.
For the time being, I would recommend that you DO NOT upgrade to 4.3, stay on the lowest version firmware ( and baseband ) that you can for now.
Furthermore, I'd recommend that all people use Tiny Umbrella to back up their SHSH blobs ( see my previous post for instructions ).
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