I see there is a lot of Apps on the US store but some of them cost a lot!
I am thinking of Jail breaking my iPhone but how do I go about doing this? Is it safe? Is there a way I can restore my phone to default if the need arises. At the moment I have iOS 4.2.1. Should I upgrade to 4.3 and then Jailbreak?
Regarding development does the phone need to be jailbroken to try apps on it?
It's very easy to jailbreak.
Go here and follow the prompts.
http://pwnmyi.com/gui/
Assuming you use windows, iphone 4 and 4.2.1, you can go directly here. Its the page you'll get to if you followed the prompts
http://pwnmyi.com/windows-jailbreak-iphone-4-on-4-1-4-2-6-using-greenpois0n/
Download the 4.2.1 ipsw firmware file here for the iPhone 4
http://www.iclarified.com/entry/index.php?enid=750
With that guide and the firmware file you're set for a jailbreak.
Now, you will unfortunately not be able to restore back to the original 4.2.1, now that 4.3 is released because you need SHSH blobs for that specific firmware version on that device, from Apple which is impossible to get once a new firmware version is released. You're just a little too late. Sorry
To get SHSH blobs, download a program called tinyumbrella
http://thefirmwareumbrella.blogspot.com/
Just connect your phone and click save shsh blobs.
So if you save the shsh blobs for 4.3 now, you will always be able to restore or downgrade to that firmware again, on that device.
You should always save shsh blobs for any firmware that is released.
Don't worry, everything is much more simple than it sounds.
DO NOT, and i repeat DO NOT upgrade to 4.3 at the moment, not until there is a new jailbreak released for it, which won't be too long now. Possibly about 2 weeks. as soon as Apple releases 4.3.1.
A jailbroken iphone is less secure than a non-jailbroken iphone IF you don't change the root password.
All jailbreaks change the root password and they all have the same password, 'alpine'.
It's very easy to change the password after the jailbreak by using simple guide. Change the password and your iphone is just as secure as a non jailbroken iphone.

Not that there are many threats to the iphone to begin with.
A jailbreak allows code that is not signed by apple to run on the device. So whether it's your own jailbreak apps or whatever, if it's not signed officially by apple and distributed on the app store, jailbreak is the way you can run these apps.
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