The other day I had downloaded something off Cydia (I cannot remember what it was) and my iPhone had crashed. Everything I tried to turn it back on, it would not get passed the Apple Logo and a spinning circle would appear over the Apple Logo and then the phone would restart and do the same thing. My iPhone is a 3G unlocked and jailbroken 4.2.1 firmware with iPad baseband. I tried to restore using iTunes but I get error 1015 and I have read that this is because since I have the iPad baseband I cannot restore to a non-custom firmware. But when I use shift+restore on iTunes to restore to a custom firmware iTunes gives me an error saying that the firmware is not compatible. My iPhone is now stuck in recovery mode and I have no way of restoring it to a custom firmware. Any ideas? Or is the iPhone bricked?
You'll need a custom 4.2.1 firmware without the iPad baseband packaged to successfully restore.
You have another option as well. Shift+restore to 3.1.x, get error 1015, exit recovery with TinyUmbrella.
You essentially cannot restore to a stock 4.2.1 firmware with your current baseband. Just make sure the custom firmware (if you choose this route) doesn't have the iPad baseband built into it for the proper restore.