Pwnagetool 3.1.4 had been released by iPhone dev team and this version support the latest iPhone OS 3.1.2 jailbreak for all iPhone generations. And again, there is no updates on unlocking the baseband 05.11.07 for iPhone 3G and 3GS. But, the good news is that iPhone dev team is continue working on the carrier unlock for the latest baseband, but the time frame for such an unlock is unknowable.
Ultrasn0w 0.9 ultimate unlock only works on the baseband 04.26.08, make sure you never update your iPhone 3G and 3GS with the official firmware that has baseband updates through iTunes. The custom firmware created using pwnagetool will avoid the baseband being updated so your iPhone will have the ultrasn0w unlock ability. Check here to read more about pwnagetool 3.1.4 release.
