If you haven't done your jailbreak after upgrading to 4.2.1 then you have to jailbreak and unlock it again. Use redsn0w to do the jailbreak and upgrade your baseband.
yes but what im asking is whether its a tethered or untethered one?
ie like the ones where if you loose all charge to your battery you have to tether it up and re-jailbreak it again.