hi,
Now that 2.1 is out, there are different reports of succesful upgrades with itunes or failed ones. Some people say they keep their phone unlocked and activated and only lose jailbreak while others lose activation and locked.
In my situation, since updating to 2.0.2 with winpwn with the old 4.6 bootloader, am I correct to assume that updating through itunes to 2.1 will upgrade the baseband to whatever it is on 2.x series and this will cause to lose unlock and activation???
Maybe this is the reason that some people cannot succeed (probably used winpwn before) while some succeed (Quickpwn???I think it updates the baseband when updating to 2.x, correct?)
Thanks for the help
edit : sorry, searching deep showed me that I was all wrong about what I wrote. Everything is clear now.

I'm certainly wondering this process myself.

I've read a few reports here that just say update it through iTunes, which doesn't seem right. Maybe that's just for contract people?

I have a ziphone unlocked & activated 1.1.4.. I'd love to update it to 2.1 with activation and unlock... I'm not sure I need to do the jailbreak.

just updated my iphone via itunes (8), worked fine all functions ok, youtube as well.
i went from 1.1.2/ 1.1.4 (iplus)/ 2.0.1 pwn/ updated to 2.0.2 (jailbroken with quickpwn)/ updated to 2.1
of course, i lost cydia and installer and all 3rd party apps.
but as the is a jailbrake solution already for mac (thank you gentlemen from the dev-team), i think, there will be a possibility for win soon.

So it worked. What is your bootloader and baseband?

i have bl 4.6 and bb 04.05.04_G and all working ok