"Step 6) To get back to 04.04.05_G (1.1.4 baseband) load bootneuter. If you dont have this, install it from installer. Run bootneuter with Neuter, 4.6, and unlock. When its done, you will have an unlocked 04.04.05_G right back where you started. Unfortunately, this only works if you have neutered your phone before the upgrade. If you did not, you will have to follow the steps below instead.
If you get a boot neuter error like 05, 02 or such, you need to follow these steps. Unfortunately, there is no safe answer to this one.The only method I know of to do this is to use a patched version of Ziphone as described here. Before you do this, you should know the risks. Read my Ziphone warning here. Your other option is to just wait for dev teams pwnage v2.0. Direct download link for pc and mac and instructions for use.
Troubleshooting:
Some of you have reported I am in DFU mode and keep getting error 20 from iTunes restore. Answer, you are not in DFU mode. Follow the guide and the DFU link. An iPhone in DFU mode has no image on the screen and looks powered down.
Some of you are reporting error 160x (1600, 1601, 1602, 1604 etc) on the iTunes downgrade while in DFU mode. I suggest trying another PC. You may still have some residual files left over from the 7.7 install. Make sure you are in iTunes 7.5 with drivers from 7.7."