I know it seems hard to believe, but it looks like we finally have a decoding solution for our iDevices and it comes from someone not affiliated with the Dev Team. A relative of the developer of the SAM program managed to find a method of decoding iPhone terminals and it is very simple and easy to use. On this website the method is described in detail again MuscleNerd confirmed that he managed to use it to decode an iPhone 4S, so theoretically it works on any iPhone.
For now, the procedure only works on iOS 5.0, 5.0.1 and iOS 5.1, but MuscleNerd says that in the future we should use it without problems, regardless of whether Apple blocks it. Everything is in a ticket that SAM saves and that we will be able to use indefinitely, according to MuscleNerd. The same MuscleNerd claims that the procedure is not affected by iTunes, so you have an untethered unlock. For now we have few confirmations regarding this decoding solution, I find it hard to believe that it exists, but you can test it if you have an iPhone that you use Gevey or ultrasn0w, but you must first follow the steps there.
Important to remember is that the method works with any baseband of any iPhone, BUT the decoding is done only for one card, so if you have several cards you must repeat the procedure for all of them. More details you have here. If this procedure worked for you, please leave a comment.
UPDATE: Here is a tutorial which will help you decode your iPhone.
