Chronic Dev-Team Demos Untethered Jailbreak For iOS 4.2.1

Pod2g notes that a small bug remains where the wifi icon doesn’t show up. Once fixed they will package the untether for release. Here’s a video demo below, released via twitter:

An ‘untethered’ iOS 4.2.1 jailbreak is what the world has been waiting for. It would be wise to release this after iOS 4.3 is out. What do you think?