PAHtSan and onnightfall my iphone just started working and here are the steps:
1. open redsnow, choose 4.2.1 original firmware, click put into DFU mode, wait till the process is done
2. open iTunes option/shift restore choose the 4.2.1 custom firmware( someone send me this via email i can email it to you ,just PM me your emails)it will restore your phone, at first it will show you emergency call only, leave it like that it will take like a minute and then you will have the normal screen.
I hope it will work for you guys!!