This comes as great news to the jailbreaking community, as we were lacking a method for iPhone 4S/iPad 2 users to downgrade firmware with Apple’s firmware security, which would only allow devices to upgrade to firmwares signed by Apple’s servers.
iH8sn0w has also passed along more information, saying that this loophole will also work with A5X devices, such as the iPad 3, when more firmwares are available for it. Also mentioned was that SHSH blobs are still required for the loophole to work and that this only applies to iOS only, meaning that the baseband cannot be downgraded through this method.
There is no mention if this method will be released to the public, but since iH8sn0w passed along this information, it seems to be something that cannot be fixable by Apple, meaning it is possible we see a release of this method of downgrading. [VIA Xsellize]