Redsn0w 4.3.1 Untethered Jailbreak
The Dev Team has done it again. With last night's update to Redsn0w and PwnageTool, there is now an untethered jailbreak for all 4.3.1 iOS devices, except for the iPad 2. Downloading the 4.3.1 firmware took about half an hour while downloading redsn0w and jailbreaking my iPhone 4 took less than 10 minutes. If you need to unlock you'll have to use PwnageTool to preserve your baseband and it will be another 24 hours according to MuscleNerd before the ultrasn0w unlock is updated for this new jailbreak. I was still on 4.1 and was due for an update.
The video shows how simple this was to do, but if you need a step by step you can find it here.