If your trying to go from spirit to pwned 4 then yeah it isn't going to work. If you have SHSH's on file for 3.1.2 downgrade, redsn0w then restore to your custom iOS 4.
That's what I plan to do. I downgraded to 3.1.2 last night and Pwned it using PwnageTool 3.1.5 and unlocked. I assume all I do is build a custom 4.0 that is jailbroken and activated and update to that? That's what I plan to do.