According to a recent tweet published by the DevTeam member planetbeing, he and MuscleNerd have finally managed to unlock iPhone 4 using the ultrasn0w tool by DevTeam, thus allowing it to be used on any GSM network worldwide.
My soft-unlocked iPhone 4 (in Canada). I’ll have video in a couple of hours once I can top-up the SIM https://twitpic.com/24ycdv
Although not a permanent unlocking solution, it’s still a big deal for all the iPhone 4 owners as not only does it mean freedom from AT&T and its outrageous international roaming charges but also the ability to use it in countries other than the five where it has been officially released.
With the upcoming spirit jailbreak for iOS 4, it will be much easier to unlock the new device. However, they are waiting for Apple to release a firmware update (4.0.1 or 4.1) but once it’s released, the unlock will be released too.