The gaggle of geeks at the Dev-Team are the folks that bring iPhone fans the jailbreaks and unlocks that they can use to set their iPhones free. Sometimes these jailbreaks required the iPhone to be tethered to computer and other times the jailbreak is able to be done untethered. The Dev-Team has announced that the jailbreak tool created by @i0n1c for iOS 4.3.1 is still working to unlock the iPhone on the new 4.3.3 iOS version.
The team also points out that this is the third firmware update in a row where the same hole that was used to jailbreak iOS 4.3.1 is still unplugged and working. That is rather surprising and I am as surprised as Dev-Team is that Apple has left the hole open. I bet that Apple might have been more preoccupied with the location tracking drama to worry about people unlocking their devices. The PwnageTool that is available right now has the port to 4.3.3.
The unlock also takes advantage of geohot's limera1n boot ROM to inject the jailbreak. Dev-Team point out that this unlock will work on all iOS 4.3.3 devices EXCEPT the iPad 2. There are also other things to note before you unlock. One is ultrasn01 users need to stay away from redsn0w and will need a custom IPSW to update to the 4.3.3 OS or risk problems. A jailbreak for the iPad 2 is being developed right now.