Just a quick heads-up: redsn0w 0.9.6rc12 can jailbreak iOS 4.3.2 if you point it at iOS 4.3.1, but it’s a tethered jailbreak.
redsn0w 0.9.6
Posted inHOWTO / NEWS
RedSn0w Update To Jailbreak iPhone 3G And iPod Touch 2G Running iOS 4.1 Beta 1 And 4.0
The iPhone DevTeam just updated RedSn0w to v0.9.6 beta to jailbreak iOS 4.1 on iPhone 3G and iPod Touch 2G.