iPhone 4.1 firmware also known as iOS 4.1 has been announced for iPhone 4. If your iPhone 4 is already jailbroken on 4.0 or 4.0.1 firmware with jailbreakme then you should avoid upgrading to 4.1 firmware as it does not support jailbreaking iPhone 4. IF you upgraded to iPhone 4.0.2 firmware or you iPhone 4 was shipped with 4.0.2 firmware then you are free to upgrade as both firmware are not yet jailbroken although iPhone 4.1 firmware is more feature rich and major update.
When will we be able to Jailbreak iPhone 4 4.1? It has yet to be confirmed but there is some evidence that @comex has some bug for iPhone 4.1 firmware. This bug was probably discovered before iPhone 4.0.2 firmware but preserved to jailbreak 4.1 as Apple could have easily fixed it in beta stages. We still have to wait for an official confirmation by @comex. If 4.1 Jailbreak is ready at the moment, it won’t be released before iPhone 4 is shipped with 4.1 firmware. He has shown intention to employ a USB Based Exploit which means Spirit Jailbreak 4.1 may emerge to jailbreak iPhone 4 4.1.
Update: iPhone 4 4.1 Jailbreak has been confirmed. It will be a part of upcoming jailbreak tool named as Greenpois0n
Jailbreak iPhone 3GS 4.1 | Jailbreak iPod Touch 4.1 | Jailbreak iPhone 3G 4.1 [Guide]
The jailbreak guides for iOS 4.0.2
Jailbreak iPhone 3GS 4.0.2 [Old Bootrom] | Jailbreak iPhone 3G 4.0.2
Our analysis regarding upcoming Jailbreak 4.0.2
Jailbreak iPhone 4 4.0.2 | Jailbreak iPod Touch 4.0.2 | Jailbreak iPad 3.2.2
The tools expected
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Jailbreak iPhone 4 | Jailbreak iPhone 3GS 4.0.1 | Jailbreak iPod Touch 4.0 | Jailbreak iPad 3.2.1

