Pretty much what the thread title says. I'm finding conflicting reports on this.
It has the old bootrom. I've seen articles saying PwnageTool can do 4.0.2 on old bootrom and it doesn't mention that it had to be previously jailbroken.
However the article on snowbreeze says it does have to be previously jailbroken. Since I'm on a PC I don't have access to PwnageTool only snowbreeze.