OTB - Stands for "Out of The Box". People often are referring to getting there iPhone back to the OTB state which means like it was when it was fresh out of the box.
IPSF - Is a company that sells software to unlock your iPhone. The company is called "IPhoneSimFree".
www.iphonesimfree.com to get you there.
From what I understand about 1.1.2 firmware is that if you buy a 1.1.2 OTB phone, it is not currently able to be unlocked because of the new bootloader version. Someone can gladly correct me if I'm wrong.
If you have a 1.1.1 phone that was upgraded to 1.1.2 it can be downgraded and unlocked but it is my understanding that currently OTB 1.1.2 phones are not able to be unlocked yet because of the ver. 4.0 bootloader.