Sunday is "funday," so the iPhone Dev Team has just released an update to their PwnageTool jailbreak tool for Mac OSX users. PwnageTool 4.3.2 incorporates i0n1c's updated iOS 4.3.2 untethered exploit. The previous version of PwnageTool was only capable of a tethered jailbreak.
PwnageTool 4.3.2 will allow you to safely restore to an already jailbroken iOS 4.3.2 firmware and preserve your current 1.59.00 baseband so that you can use UltraSn0w to unlock your iPhone...