Redsn0w 0.9.7 beta has been updated today, eliminating the need of externally running usbmuxd process which plagued many Mac OS X users. Everything else remains the same. Bluetooth functionality is still disabled.
The official change log is as follows:
Starting with this version, redsn0w no longer requires you to install and run a separate program for the usbmux (this was a non-trivial procedure for many). It’s okay to keep that program running if you normally use it for ssh anyway. We also think we’ve fixed a race condition in the GUI that was causing redsn0w to crash during the “Preparing JB Monte Files” step. Nothing at all has changed on the iPhone side (where the main issues are still just Bluetooth and Skype).
Also, if this statement from the official Redsn0w testers account is anything to go by, the Windows version of Redsn0w 0.9.7 will follow soon after this fourth beta release for OS X:
Today’s beta4 will eliminate separate usbmuxd process (so many more Mac users can use it). After that, expand to Windows.
You can follow our instructions for untethered jailbreak (skip Step 4 of usbmuxd as it is no longer needed) by following our complete step by step guide posted here (video below) to jailbreak (untethered) iPhone 4, iPad and iPod touch 4G on iOS 4.2.1 with Redsn0w 0.9.7.
NOTE: All the standard warnings mentioned previously still applies.