Hi Blackwolf
I can answer your question. [ONLY FOR 3GS users]
You will require 3 tools in order preserve your BB, unlock & jailbreak your iphone.
1. Pawnage Tool Latest version (Unlock EDITION)
2. Redsnow latest version.
3. Ultrasnow
1. [PRESERVES BB] The current Pawnage tool DOES NOT jailbreak the iphone - as in, it does not install cydia. This unofficial pawnage tool release from iphone dev team is to allow the phone to be upgraded to 4.2.1 WITHOUT upgrading your baseband, hence, it will preserve your existing BB.
Step A
iClarified - iPhone - How to Add a Firmware Bundle to PwnageTool
Step B
iClarified - Apple News - iPhone Dev-Team Releases Unofficial PwnageTool Bundle for iPhone 3GS
2. [JAILBREAK IPHONE] Latest redsnow only works on 4.2.1 firmware, therefore, in order for redsnow jailbreak an iphone, you MUST HAVE 4.2.1 software, hence pawnage tool.
Step C
iClarified - iPhone - How to Jailbreak and Unlock Your iPhone 3GS Using RedSn0w (Windows) [4.2.1]
3. [UNLOCKS] Unlock the iphone using Ultrasnow in cydia.
Please BEAR IN MIND, this method is only applicable to those that have a BB firmware of 5.13.04 or below. THIS IS A TRIED AND TESTED METHOD, I JB my iphone this way - iPhone 3GS 32GB 5.13.04, OLD BOOTROM
For those with BB above 5.13.04 must upgrade to 4.2.1 official, then JB with Redsnow using the iPad firmware in order to unlock.
Please Note:
3GS OLD BOOTROM = UNTETHERED JB
3GS NEW BOOTROM = TETHERED JB