An Australian iPhone hacker ozbimmer was able to unlock his iPhone using TurboSIM in 2007 then used it on the Telstra network. According to Appelnberry, Gevey SIM will be available for all countires except China from 18th or 21st March. Currently there is no information available about the price of GEVEY turbo sim. There is a positive response from the hacker community.
iPhone Dev Team member MuscleNerd has not denied the legitimacy of Gevey Turbo SIM. A video posted by Gevey team demonstrates the unlocking of iPhone 4 on baseband 02.10.04 and 03.10.01. You can watch this video embedded below.
If you don’t want to wait for software based unlock then you can unlock your iPhone using Gevey Turbo SIM. You should note that it is not confirmed whether it is legal or not. So it will be better to wait for the 40-bit NCK hack for iPhone 4 by the iPhone Dev-Team.