Im with you!

You would still need the correct bootloader I think. I just installed Fuzzyband 3.1GM on my iPhone 3GS 32Gb which is already unlocked since I did the custom upgrade to 3.1.2. When I run it, it says I am ready for Ultrasn0w but that is because my baseband is fine already I gues. Just install the Fuzzyband 3.1GM version and run it to see what it says. It wont change anything unless you tell it to. If you can even.

Let me know too please, looking to help a friend out with 3.1.2 and latest baseband

Can't wait to see your guys' work. The demo looks promissing. Its already 10AM on Friday over here since I live in Holland so I will be checking tonight to see if I can play around with my iPhone.