Yesterday Rogers confirmed that they would support the Personal Hotspot feature coming in iOS 4.3. Today, Telus has done the same via twitter via a conversation with user @nickfruhling:

@TELUSsupport Good morning, wondering if Telus will support iOS 4.3 Personal Hotspot feature when it comes to iPhones next Friday. Thanks!

@TELUSsupport replied:

@nickfruhling Hi, Anthony here. Yes, as long as your data plan includes tethering

So there you have it. Telus is on board with Personal Hotspot.