SOLUTION: Run GeoHot's 4.6 BL Unlock from 1.1.1
If you have a 1.1.2 OOTB (or 1.1.3) w/ 4.6 BL running on 04.03 BB firmware and JailBreak 1.1.2 doesn't recognize your iPhone after Oktoprep 1.1.2 update, please read the below:
I have been messing (6 hours) around with GeoHot's 4.6 BL and somewhere along the line I had to do a full restore to 1.1.3 to "fix" a corrupted base-band. As a result, I ended up a 04.03 BB from 04.02 BB.
I noticed that Jailbreak did not recognize 04.03 BB iPhone after Oktoprep; I would get a prompt to restart, reconnect, blah blah blah.
So i decided to downgrade to the "jailbreakable "1.1.1 (my base-band on 04.03) and run GeoHot's 4.6 BL unlock on 1.1.1 (to downgrade my BB to 04.02), rebooted and installed Oktoprep before updating to 1.1.2.
Voila, 1.1.2 jailbreak successful!!!!!!!!
Of course, don't forget to install iWorld afterwards.