Today we get some very good news from MuscleNerd who stated on Twitter that a new bootrom exploit was found. The bootrom exploit was found by a new hacker that goes by the name of Pod2G, and he really has made an incredible find. A bootrom exploit is more than just, a software exploit (which is what iOS4 jailbreaks have been about). When the bootrom is exploited it means that Apple cannot patch the exploit without releasing new hardware (aka iPhone 5).
Apparently Pod2G discovered this exploit in the iOS 4.0.1 firmware, and this means the Dev-Team can continue to use this exploit until Apple releases new bootrom. Unfortunately this does not mean an iOS 4.1 jailbreak is going to be released just yet. As MuscleNerd said, there is a lot of work to be done in order to developed a fully compatible jailbreak. I am very confident however, that we will see this jailbreak released at the end of the month. Good luck to the Dev-Team!