GEORGE HOTZ aka GEOHOTZ has released an unlock for the OOTB 1.1.2 and 1.1.3.
Download at http://lpahome.com/geohot/gunlock.rar.

OFFICIAL INSTRUCTIONS

geohot’s 1.1.2 software unlock
yes, this is what you have all been waiting for
now fixed to support 1.1.3

1. Download these:
gunlock and the secpack from http://iphonejtag.blogspot.com/ or the blog
the 4.02.13 fls from http://george.zjlotto.com/index.php/baseband/

2. Downgrade your phone to 1.0.2. See all the great tutorials online to do this.
Your baseband won’t be downgraded, this is normal.
This will probably work on other versions too, but 1.0.2 doesn’t lose wifi on bb access.

3. Kill CommCenter and run “gunlock secpack ICE04.02.13_G.fls”

4. Reload CommCenter. For some reason my phone was in brick mode. Use the elite team bricktool to get out.

5. Enjoy your 1.1.2 OTB unlocked iPhone

Now who’d have thought it’d be this easy

This release is no thanks to elite/dev
I wish they would share like the old days.
I don’t believe everyone in the team is like this, but come on guys.

If you want to contribute to me, the person who discovered these exploits and wrote this tool
paypal geohot@gmail.com