The iPhone-Dev Team today released Redsn0w 0.9.6rc13. This release candidate is capable of an untethered Jailbreak on iOS4.3.2 (except for iPad 2).
Go to Redmond Pie for the full scoop and how-to instructions.
But be aware, if you are reliant on a carrier unlock you should avoid this Jailbreak as it doesn’t unlock your carrier.