iPhone Dev Team has just released Redsn0w 0.9.8b3 to Tethered Jailbreak latest iOS 4.3.4 on iPhone, iPod touch and iPad 1. All those who are on iOS 4.3.3 should not update to iOS 4.3.4 as iOS 4.3.4 does not have any new features except it only fixes patch of PDF vulnerability that were found in iOS 4.3.3 and was used in JailbreakMe 3.0 to Jailbreak iPad 2.
iPhone Dev Team Says:
For the convenience of kernel hackers like @comex and @i0n1c, we have a new redsn0w 0.9.8b3 that supports a TETHERED jailbreak for iOS 4.3.4 on all devices that have 4.3.4 except the iPad2. The vast majority of people will want to stay back at 4.3.3 because that’s where the untethered jailbreak is! There are no new features in 4.3.4 — only fixes for jailbreak exploits.
Also, this is a good time to remind everyone (since we’re still seeing confusion about this): iPad2 owners with a baseband (3G or CDMA) cannot currently use saved blobs to go back to 4.3.3 once the signing window is closed. This is unlike every other device, so don’t be confused! iPad2 owners with basebands should stay away from all updates to maintain the jailbreak!
Note: The Jailbreak is Tethered for now. So you must to boot tethered your device on every reboot.
The step by step guide to jailbreak iOS 4.3.4 for iPhone, iPad and iPod Touch is posted here which is same for both Mac and Windows users. If ever you reboot your device just connect your device to computer and open Redsn0w and click “Just Boot Tethered Right now”.