Rejoice jailbreakers, you could soon get to jailbreak iOS 4.1. Comex, the developer behind Spirit Jailbreak and JailbreakMe tools is in possession of the userland exploit that will jailbreak iOS 4.1. So, you would be able to jailbreak iPhone 4, 3GS, 3G. It could possibly jailbreak iPod Touch 4G as well. The plans for future userland jailbreak were revealed by MuscleNerd while replying to a tweet. MusclNerd said:

@TechXero it’ll be userland JB if @comex can pull trifecta. Else, wait for new HW cycle (also remember: hole!=exploit)

in reply to:

@MuscleNerd I know tons already asked this but is the iOS4.1 gonna be a userland jailbreak as usual or will redsn0w be making a comeback?

There is no release date as expected but it could be soon after iOS 4.1 release goes public in couple of days. Currently iOS 4.1 GM is available to developers for download.