Which is the best way to jailbreak iPhone 4.2.1?

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MacBook Pro on OS X Mavericks
I haven't jailbroken my phone in a long time and am considering doing it again. Which is the best way to jailbreak 4.2.1? Does jailbreaking still slow down the phone or does it move just as fast as when not jailbroken?

Also, for this firmware version, are all the customization apps still available to change the look and sound of my phone, like Winterboard, etc.?
 

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