Speaking of unlocking the iPhone, MuscleNerd just confirmed that an iOS 5 compatibility update to the unlock tool will be released tomorrow, after the planned MobileSubstrate update.
Of course, UltraSn0w will only work for 01.59.00, 04.26.08, 05.11.07, 05.12.01, 05.13.04, and 06.15.00 basebands. If your baseband is different from these, you will not be able to use UltraSn0w to unlock until the Team figures out a new exploit, which may take a while...