MuscleNerd just sent out a tweet that the unlock will not be released before iOS 4.2.5 or iOS 4.3.That means if iOS 4.3 comes out after 4.2.5 then unlock will be released only after iOS 4.3. On Side note iOS 4.2.5 is the firmware version of Verizon iPhone 4 and iOS 4.3 Beta 1 is already out for developers. If you are on iPhone 4 baseband 02.10.04 / 03.10.01 so you should wait for iOS 4.2.5 or iOS 4.3 released.
“Official iPhone unlock statement: no unlock will be released until after 4.2.5 or official 4.3 (whichever is last) is out”
So it is highly likely that iOS 4.3 will be unified iOS for both GSM & CDMA iPhone 4 & iPhone 3GS. It makes sense to release unlock only after the firmware which comes last.