A mere 24 hours after releasing the minor iOS 4.3.1 update, the tethered jailbreak was available publicly, for all users of the platform to mess with. The Dev Team has been waiting this release actually, claiming that they won’t release a jailbreak for iOS 4.3, avoiding Apple’s fix of the security hole that the hackers exploit in the jailbreak.
So instead of jailbreaking iOS 4.3, the experts chose iOS 4.3.1 and this tethered hack allows users to customize iOS like a normal jailbreak. However, this time the handset needs to be tethered to a computer in order to boot. There’s no untethered solution right now and this isn’t recommended for the average user at the moment.
I guess that such a jailbreak method will pop up soon, so you won’t be needing to hook up to the PC to boot the iPhone, iPad or iPod touch for long.