If your modem is 2.x.x, you can't unlock; you can't downgrade the baseband on an iphone4 either. You can still jb; go to iclarified.com.
If you haven't already, start saving your SHSH blobs with Tiny Umbrella. It'll help you in the future.
edit: Why don't you just pay the money to get the unlock from your carrier? If they authorize it, Apple will unlock your phone and you won't even have to jailbreak.