Apple has pushed out a minor update for iOS which is meant to patch a security vulnerability which could have left your phone open to an attack. If you’re not using a jailbroken device you should probably connect your iPhone, iPod touch or iPad to iTunes and install iOS 4.3.5 to tighten security. For Verizon iPhone users, the software update will bring iOS 4.2.10.
On the other hand, if you are a jailbreaker, here’s what you need to know: If you update you won’t be able to use JailbreakMe.com anymore. It’s the simplest way to jailbreak a device, simply by pointing your iOS web browser to a web site and following the on-screen instructions. But it only works with iOS 4.3.3 and earlier.
But you can still jailbreak your device even after you upgrade to iOS 4.3.5. You just need to download redsn0w for your Mac or PC, connect your iDevice to your computer with a USB cable, and run the app. When it asks for an IPSW, choose the iOS 4.3.4 IPSW, assuming you still have it.
There are two problems with this method though. First, redns0w doesn’t work with the iPad 2 yet. Second, you’ll only get a tethered jailbreak. That means anytime you reboot your device you’ll need to connect to a computer and run redsn0w again or lose your jailbreak.