Several tweets this morning are indicating that a jailbreak for iOS 4.1 could come sooner rather than later. Could there be any better news you ask? Why yes! Jailbreaker @pod2g as well as other sources are indicating that this "particular" exploit would require Apple to flash to a whole new bootrom in order to fix it.
What does this mean for jailbreakers? It means they run less of a risk of accidental updates and what-not being so catastrophic. Apple can't fix this exploit by simply issuing a software update. It would require a flashed version of the bootrom out of the factory. We may eventually see new iPhone 4s shipped with newer bootroms but any older ones would remain jailbreakable, regardless of any software update Apple may issue.
So if you're like me and lost your jailbreak for 4.1 (darn prox sensor!), you'll soon be able to have jailbreak goodness back again. How many of you still plan on jailbreaking and how many of you think iOS 4.x gave you what you needed? For me, notification systems are still a valid reason to jailbreak. What about you?
An update from someone BGR was in contact with has now stated that a flashed bootrom would not be sufficient. A whole new processor revision would be necessary.