Many iPhone jailbreakers and unlockers were waiting for Comex to develop his iOS 4.2.1 untethered jailbreak. iPhone Dev team had also assured everyone that untethered jailbreak will be released during Christmas season.
Now, the hacker needs more time to finalize few things in his code, which will be used in Redsn0w 0.9.6. His recent update on Twitter -

It may be disappointing for everyone, but it’s very important to release perfectly working tool on all iDevices. Well, we can’t do much about it now. We just have to wait again for iOS 4.2.1 untethered jailbreak. We’ll keep you updated with latest information, so stay tuned.
If you want to get tethered jailbreak, you can jailbreak your devices with Redsn0w 0.9.6.
