We don’t have much in terms of details right now, but it looks like the jailbreaking process for iOS 4.3.x is totally underway and they’re just working out some of the kinks.
This comes by way of MuscleNerd on Twitter, the self-professed iPhone hacker of iPhone-Dev.org. According to his tweet, the untether from @i0n1c is just dandy and he just needs to work out some overall issues with the jailbreak and with Cydia support.
Given that iPhone users now have official support for a mobile hotspot, they may not be quite as inclined to go through the jailbreaking process. That said, there are still tons of things that jailbroken iPhones can do that the non-jailbroken brethren can not. All of you with the new iPad 2 will just have to wait.
Update: Jailbreak 4.3.1 has been released.