As I sort of suspected, the IMSI read flaw in the iPhone’s baseband has yet to be patched, so Turbo SIM’s should still work with 1.1.1. In addition it should be noted that unlocking via hardware using geohot’s method should always work, regardless of updates.
The problem, of course, is that in order to actually use your unlocked phone you need to activate it. And this can’t be done without having write access to the iPhone’s filesystem. iPhoneSimFree.com reported that their software unlock remains working, but without a way of activating 1.1.1 iPhone’s this can’t really be confirmed.