I just have a couple questions for you guys, mostly confirmations as I've done extensive research.

1- There are no risks with jailbreaking a 1.1.2 otb iphone correct? Worst thing that can happen is that I need to restore the phone. Its unlocking where the risks come in, not jailbreaking as apple is only trying to brick unlocked phones, not jailbreaked phones correct? Dont want to end up with a $400 brick b/c I wanted to jailbreak it.

2- All the guides I have read say that in order to jailbreak your iphone you need to downgrade to 1.1.1. I thought the 1.1.2 otb iphone came with a new bootloader that prevented the downgrade? Woulden't that impede the jailbreak?

3- Im running windows. I read somewhere that I can use iDemocracy to do the entire downgrading/jailbreaking process. If so, can anyone link me to a quick tut saying what to click there or should I just do the written tuts that I have found that dont use iDemocracy?

4- Im just planning on jailbreaking to run some 3rd party apps, no more. Should I activate my iPhone with AT&T before jailbreaking or after jailbreaking? Also, will any features be compromised between a jailbroken iPhone and a regular iPhone?

Hi,

1- Yes, you are right, there are no risks in jailbreaking.
2-The new bootloader doesn't let you downgrade the baseband, but you are able to downgrade the main firmware.
3-iDemocracy isn't that good. For good guides look for iClarified.
4-You should activate with AT&T first, and then jailbreak. The only feature I think, maybe, you will loose is the Visual Voicemail, but I'm not sure !!