Good news for all iOS jailbreakers: turns out the latest 4.3.2 update is still vulnerable to the same untethered hacking method used by redsn0w for 4.3.1, so Dev-Team's @i0n1c simply had to port his code over to the new kernel to keep the jailbreak alive. As before, the almighty iPad 2 is still not supported here, and ultrasn0w unlockers are reminded to wait for the new PwnageTool release later this week; but the rest of you can go ahead and grab the new tool at the source link.
Update: Eke! Looks like the existing build is causing issues for iPhone owners -- hang tight, we're hearing that a fixed version is on the way!
[Thanks to everyone who sent this in]