I'm just going to experiment to see if before I turn it off for the second time it will let me use other o2 sims, although this isn't really a useful solution.
For anyone that's interested, I had brief chat with someone on the irc channel last night, they said pretty much what I was expecting. That come the end of feb and the SDK, a true jailbreak will likely be released (seeing as this is more of a psuedo-jailbreak/custom firmware) and for that a patched lockdownd will work for us non iphone contract O2/ATT customers.