According to the Chevron WP7 blog, Labs is only a few weeks away from launch. It will allow "hobbyist developers to install, run, and debug unsigned applications on their personal Windows Phone" and will cost $9 per token (one token equals one Windows Phone device registration). The best thing (next best thing after the price) is that it will not void your device's warranty. To read more details about the unlocking procedure itself, follow the source link below (though we'll give you details at the time of launch).
Source: ChevronWP7
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