The baseband downgrade you speak of has some benefits. Yes you will regain gps functionality as well as it will be much easier to do an iTunes restore. I downgraded my gf and my phone's baseband. It's a simple process. Download your firmware ipsw, open redsnow, click extras, select firmware, back to jailbreak and select downgrade baseband. I had to run the downgrade twice as the first time didn't do the trick I was left with blank wifi settings and modem firmware settings etc. And you may or may not have to reinstall mobile stubstate and or ultranow. On my phone I just ran the downgrade twice and was good to go. On my gf phone, we had to uninstall and reinstall ultrasnow
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