MuscleNerd, iPhone Dev Team member, has managed to extract all data from the bootrom of iPhone 4S baseband. Musclenerd posted a proof image, with raw data of iPhone 4S baseband on his twitter handle. This means iPhone 4S jailbreak and unlock could be very close, now they can work with the baseband with complete freedom to find an exploit.
Now we all wonder what happened to the baseband of the iPhone 4 during all this time? If you remember the first baseband of the iPhone 4, the 1.59.00 was unlocked with Ultrasn0w, but after that there was nothing, it seemed that Apple had closed all the doors, but the game starts again, we will keep you informed.