Contract buyout/Unlocking

Hi

I'm new to unlocking; I had ultrasn0w installed once on my 3G a long time ago but I didn't really need it, just wanted to see if it worked.

I now have an iPhone 4 that's been under contract for a year. I am moving out of NA for school in February and would like to take the phone with me rather than buy a new one. I upgraded to 4.3.3 without knowing about the whole baseband preservation thing. My current phone is jailbroken (pre-jailbreakme.com).

What are my options? I'm with Rogers and their contract buyout doesn't seem to also come with an unlock for your current hardware (which I find bull#*$% but that's another issue).

Should I:
1. buy a new iPhone in the new country and try and sell this one with 1.5 years of contract remaining
2. update to iOS 5 and preserve my current (4.10.01) baseband in the hopes that it will be unlocked soon?
3. ...I don't know, suggestions would be nice.

Thanks for your help. Also, I really don't understand this SHSH blobs thing. I've tried to figure it out. Is it worth it for me to start "saving" them?

 

I'm not sure what ETF means.
I think if I buy out of my contract ie. pay the penalty to end the contract early, I was under the impression that I would be able to get my phone unlocked, since I am not longer under contractual obligations to the company therefore the phone is now my property.

I have Gevey Pro that I bought for my current phone but haven't used it. I had planned to use it in Europe this summer but ended up getting along just fine with wifi and texting. Hopefully they figure out a way to make it work for iOS 5 though...