just came across this in another forum:
As many know, Apple recently released 3.1.3 firmware along with a change in baseband. This has left many believing they are stuck at 3.1.3 with no way to unlock or downgrade, losing their jailbreak. After entirely too much research, Ive stumbled upon a temporary fix. It is possible to downgrade to 3.1.2 by following these steps. This will work for 5.12.01 baseband and all MC models.
1. Download the latest version of iTunes.
2. Download 2g 3.1.2 firmware. Make sure you select the correct firmware iPod touch 3.1.2 (7d11) or iPhone 3.1.2 (7d11). THIS IS THE ONLY FIRMWARE ITUNES WILL LET YOU DOWNGRADE TO.
3. Power your device off. Hold home and power for 10 seconds, then release power but CONTINUE holding home for 10 more seconds, putting your device into DFU mode.
4. Open iTunes. Click on your device at the left, and you should see the option to restore. Holding shift, click restore. Select the 3.1.2 2G firmware downloaded above, and let iTunes do the rest (youll need to select 2G even for 3G ipod/iphones).
5. Your device can now be jailbroken. The fastest and easiest way to jailbreak is going to blackra1n.com, though this is a tethered jailbreak. If this doesn't work, try RedSn0w 0.9.4, which is what I used.
6. Enjoy!
Note : this is the only working 5.12.01 baseband jailbreaking guide I know of.
can anyone confirm this?