Jailbreak iPhone 3G (4.2.1) with RedSn0w, but preserve baseband?

[version 4.2.1] Is this possible? I still have AppleCare on it, so I want to preserve the baseband. I know I can use Pwnage Tool 4.2 to do this exactly, but I hate how you have to restore your iPhone with the custom firmware -_- I just want to know if I can preserve my baseband with redsn0w. If so, what version should I use?
 
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