The iPhone Dev team has just released PwnageTool 4.3.2 which adds support for iOS 4.3.2. The jailbreak uses i0n1c’s untether, which Apple did not fix in 4.3.2. Ultrasn0w has also been updated to 1.2.2 adding support for the new firmware.
Update #3: PwnageTool 4.3.2 now includes the iOS 4.3.2 untether from @i0n1c. (And look, the PwnageTool and iOS version numbers actually match!).
Note that there’s a corresponding update to ultrasn0w, which has been bumped up to v1.2.2 to get along with iOS 4.3.2 (the ultrasn0w update does not include any new baseband support!). Please reboot your iPhone using the normal “slide to power off” swipe after installing ultrasn0w 1.2.2.
Sn0wbreeze also preserves your baseband, which is very useful for unlockers. That is why it is so-called Pwnagetool for Windows. With Sn0wbreeze you can update to firmware iOS 4.3.1, while preserve old unlockable baseband. It also works with iPhone 3GS with 06.15 baseband.
Sn0wBreeze 2.5 does not support iPhone 4 Verizon and iPad 2.
Ultrasn0w doesn’t work on iOS 4.3.1 yet (even with iOS 4.3.1 + old baseband). The fix will be available soon. Here’s a warning from DevTeam for unlockers:
ultrasn0w users don’t update yet! We need to first release an update to ultrasn0w that fixes some incompatibilities when FW 4.3.1 is used on the older basebands supported by ultrasn0w. And remember once we do fix ultrasn0w for 4.3.1 (we’ll announce it here and on twitter), you must only get there via a custom IPSW from PwnageTool, Sn0wbreeze or xpwn! Don’t ever try to restore or update to a stock IPSW, or you’ll lose the unlock!
Sn0wBreeze 2.9.3(pwnagetool for windows, supports tethered jailbreak of iOS 5.1 for iPhone 4, iPhone 3GS, iPod Touch 3G, iPod Touch 4G, iPad; untethered for iPhone 3GS with old bootrom; untethered for iOS 5.0.1, iOS 4, iOS 3 supports Apple TV 2G)
Sn0wBreeze 2.8b11(pwnagetool for windows, supports iOS 5, iOS 5.0.1, tethered jailbreak for iPhone 4, iPhone 3GS, iPod Touch 3G, iPod Touch 4G, iPad, Apple TV 2G; untethered for iPhone 3GS with old bootrom)