Because of several changes in iOS 4.3 in comparison to iOS 4.2.1 the jailbreak is NOT READY yet. That is what the *ALPHA* means. I need some time to check what kernel patches are actually required to work 100%ly.
However I recommend the dev-team or chronic-dev to first release a *tethered* iOS 4.3 so that everyone can test if their nice feature actually work. I guess most people require Mobile Substrate to work and AFAIK it does not work due to ASLR. It would be a waste if Apple kills an untethered jailbreak before Mobile Substrate works.
That said I will release the jailbreak when a) there is no other untether by the time I am finished b) if MobileSubstrate works.
Any report that I wait for iOS 4.3.1 is just a misinterpretation of my words.
I merely think that Apple should release a iOS 4.3.1 soon, because it is in their interest to not wait for several months when everyone knows that there is a remote exploit in MobileSafari that might have leaked during the #PWN2OWN contest.
I am pretty sure that the untether will be released before the next weekend. I was using older kernel patches that caused lagging on the jailbroken device. I will change that and then port it to the other devices and release.
I0n1c has previously said that his untether will likely end up in RedSn0w. As usual we will keep you up to date with the latest news.
You can watch the untether video below...