I have just been tipped off by one of our readers who has got a reply from Chpwn, confirming that Cydia is now ready for primetime use on iOS 4.2.

iOS 4.2, at least from what information we have so far, is slated for release this Friday and it’s going to be a significant update for iPad (not so much for iPhone / iPod touch, though). And of course, there’s going to be a jailbreak to accompany the new iOS version. Here’s all you need to know.

The iPhone developer and hacker behind Sn0wbreeze has confirmed that Cydia has started saving SHSH Blobs of iOS 4.2 betas for the next untethered jailbreak on the final version of iOS 4.2.

As we posted in our guide on how to jailbreak iOS 4.2 GM on iPhone 3GS; Cydia and a lot of jailbreaking apps are completely broken. Both Cydia and JB apps will, of course, eventually start working and if MuscleNerd’s tweet is anything to go by, hackers chpwn and saurik are burning the midnight oil to get it working as soon as possible.

PwnageTool bundle for jailbreaking iPhone 3GS on iOS 4.2 GM has been released. You can use this bundle with PwnageTool 4.1.x to jailbreak your iPhone 3GS (old bootrom only), while preserving your old 05.13.04 baseband so that you can unlock it using Ultrasn0w.

Apple has seeded the final GM release of iOS 4.2 to developers. The recently released Redsn0w 0.9.6b2 (based on Geohot’s Limera1n) can jailbreak all of the current iOS devices on iOS 4.2. This has also been confirmed by MuscleNerd of the iPhone Dev Team.