According to the usual suspects, now you can 100%-unlock the iPhone using a Turbo SIM card, without depending on the version of your current carrier card. Testers say it will give you full calling, SMS and GPRS data capabilities with any network and no extra hardware needed, since it only requires you to modify the $80 blank SIM using your own iPhone.The hackers are claiming that this method doesn't use card readers and it doesn't depend on your previous card version either, so it doesn't matter if it is a V1, V2 or V3. All of them will work fine.
While the Turbo SIM-based method is not software-only, it seems simple and cheap enough for anyone to follow.
However, to save you any potential pain we will test it here as soon as we get our Turbo SIM cards —which are about to arrive. We will give you a full report on our results as soon as we try it. [Bladox Forums]