Did the 1.1.1 firmware brick your iPhone and you want to downgrade back to the 1.02 firmware? If so we now have the solution with a few setbacks. This method will let you restore your third party apps but folks with unlocked phones will not be able to make calls. The Dev team is still working on a solution but for those of you who want to make use of your paperweight here are the steps to fix your bricked iPhone.

Make sure you have a copy of the 1.0.2 firmware if you do not have it you can get it here!

iPhone1,1_1.0.2_1C28_Restore.ipsw

stored in:

youruser/library/iTunes/iPhone Software Updates

• Reboot iPhone holding the top button (power) and the home buttons.
• Release the top button 10 seconds after that, right after the screen goes dark. But keep the home (bottom) pressed for a while.
• The iPhone screen will appear to be off. Now start iTunes manually.
• iTunes will tell you it has found an iPhone in “restore mode.”
• Press option key and then click the restore button.
• Select the 1.0.2 firmware .ipsw file from here:

youruser/library/iTunes/iPhone Software Updates

• The phone will restart and there will be an error out at the end. Don’t worry. It was bound to happen (if the iPhone returns to Restore Mode instead of Activation Mode, then you may have to restore the 1.1.1 firmware, wipe all information in the iPhone and then repeat from above. But first, try to restart the iPhone.)
• Shutdown iTunes.
• Launch the latest iNDpendence (Mac-only for now.)
• Activate the phone using a expanded 1.0.2 file (to do that, make a copy of the 1.0.2 ipsw file, then select “Open with…” from the Finder’s action menu and use BOMArchiveHelper.app (it will appear in the menu.) The ipsw are really .zip files.
• It will flash all sorts of errors, but don’t worry.
• Activate the phone.
• It will show the SIM error but now the iPhone will work again with your Wi-Fi and your apps.

No, the unlock won’t work and you won’t be able to call, but all the rest will work again

-Thanks Hackint0sh