I know everyone is having a issue with this. But did anyone find a way around it?

I had this problem and managed to fix it. I can't exactly tell you what I did as I tried so many things and can't remember exactly what worked but try this:

Get the latest Pwnage Tool (2.01 I think) as this is the version that ended up working for me.
Create the folder /Library/iTunes/Device Support AS WELL AS /Users/(yourusername)/Library/iTunes/Device Support/. If there are files in either delete them. You need to keep checking these folders everytime you try as well as it keeps putting files here.
Create the IPSW file using Pwnage Tool. I wasn't able to make PwnageTool make the phone go into DFU mode and it wouldn't recognise it when I did it myself, so I just went to iTunes and tried through there.
DFU mode within iTunes didn't get me any success so I tried again with regular recovery mode using the new ISPW I made and I finally got it working.

Thread renamed > please follow the title format policy (link in my signature), thanks.

Same here ...
there is no solution till now...
i tried each n every thing

SOLVED

just i created a new folder on desktop n run pwnage tool 2.0.1 from there with new boot loaders ....