Jmills87 said:
Actually when Saurik updated Cydia to version 1.1.2 he took the make my life easier button out and started to save SHSH blobs automatically on his servers. Although Apple shoots out updates quickly sometimes (like with 4.2.9 4.2.10 or 4.3.4 4.3.5) and cydia won't get your SHSH blob in time. So it is always recommended to manually save your SHSH blobs while the current firmware your on is being signed, or else you'll have to use iFaith.
You can see if your SHSH blobs are saved by checking the top of the homepage on cydia. It should say SHSH in green and have your saved firmwares next to it.