when the iPhone locks up in Apple logo mode you have to do the "hold power + Home" dance to get the phone in DFU or Restore. Running
blackra1n while the device is connected has also worked before in rare times.
Hold the power button for 10 seconds, then press add the home key for five seconds or so, then let go of the home key.
Also do this while the device is connected to your PC with the audio on so you can hear the USB connected "bing bing" sound, that way you know to let go of the home key. Once you get the phone in restore or DFU you can use iTunes to restore it.
I would restore it to 3.1.2 NOT 3.1.3 though if you want to unlock it now. If you update to 3.1.3 you cannot unlock till they release the 5.12.01 baseband unlock.
also: you don't have to put my name in thread titles, I am all over this forum and I'll get to it fast, not to mention a few others are pretty good with iPhones here