Unfortunately no. The last two Basebands that have been released for the iPhone 4, 4.11.08 & 4.12.01, have NO options for a free unlock. The only Unlock available for those BB's would be an unlock directly from your wireless provider. Sorry... :-(
Nope... the 4.11.08 & 4.12.01 BB's cannot be software or hardware (Gevey) unlocked. Also... please refrain from using explicit language here at iPF. We are a family friendly forum Thanks!
To be honest it would work out better for you to go 3 and get it permanently unlocked because if you could rely on ultrasn0w or gevey the iphone would lock up again if you where to restore for what ever reason or upgrade to a newer ios version so its more hassle then its worth and 3 may do it for free