A few sources have reported that once you update your unlocked iPhone it will stop working but we can confirm that all the unlocked phones are still working fine. As long as you don't update your iPhone will be fine and Apple won't force your phone to update at least it still didn't.
We are very sure that the same guys that cracked 1.02 software version will find the way how to unlock the 1.1.1 version released today but it will certainly take some time.