Running iOS 3.1.2
BB 05.11.07
Jailbroken and unlocked via blackra1n.
To clear all the info to sell, all I have to do is "Erase All Content and Settings" correct?
Don't every do this. If you do, your phone will hang.
Since you have 3G, you can just restore it to 3.1.3 where you do not need SHSH blob to do it and you still can keep your baseband at 05.13 where you can unlock it with Ultrasn0w.