Yes you read that right! The same source who earlier provided us with screenshots of iPhone 4, unlocked to work on T-Mobile US using Gevey SIM has just provided us more proof to confirm that it can also unlock iPhone 4 on the latest iOS 4.3, Baseband 04.10.01.
In case you don’t already know, Gevey SIM for iPhone 4 basically works by forcing the activation of the baseband using the emergency dialer. You can read more about how it actually works by navigating to this link here.
So should you get it now? Well if you are tired of waiting for software-based unlock, and you don’t mind spending a few extra $, then you can get this mod to unlock your iPhone 4. However we at Redmond Pie wont recommend it due to its current legal status. MuscleNerd and Co. are still working on an Ultrasn0w (free software based) unlock solution. We suggest to wait for the 40-bit NCK hack for iPhone 4 by the iPhone Dev-Team.
(Thanks to Anthony Ngo for sending this in!)