If you have your SHSH on file then you can downgrade your phone. Then, depending on whether you have an old- or new-bootrom phone, you can jailbreak with either Spirit or Redsn0w. If old-bootrom, you can then upgrade to a custom 4.0 firmware if you like.
If you do not have you SHSH on file, then there is no way to jailbreak your phone at the moment.
I'm guessing I don't, because I don't know what that is. Damn... then again they're (the dev team) always hard at work, right? So it should happen eventually?