gabr: According to some blog post I read from a week or two ago, Chronic Dev Team was not working on the unlock at the same time as the jailbreak (BUMMER). I'm in the same boat as you, have the 2.10.04 modem firmware and I need the damn unlock.
However, in terms of the timeline for the devs, the jailbreak is the most important, as it allows them (and you) access to the inner workings (read: baseband) of the phone. From all the research I've done, it seems the demand for the unlock for this baseband and the 5.xx one I saw is pretty high, so hopefully it's next on their to-do list. This is looking good because greenpois0n is capable of jailbreaking all of the iDevices out right now so they won't have to spend as much, if any, time on jailbreaks until they release new hardware that GP is ineffective to jailbreak.
Hopefully it comes quick.
/crossesfingers