Droid 3 users, CyanogenMod7.1 finally lands on your handset! This release is extremely BETA! Thanks to HashCode of XDA, we now have a way of circumventing the locked bootloader. He has developed a "2nd System" method which can install and run a rom from the /preinstall partition. This is called "Droid 3 Safestrap" Bootstrap. This Rom is not flashable in Koush's Bootstrap.
This build includes all the customization options that you know and love from the CyanogenMod rom series, and is built on Android 2.3.7 source code. Being that this rom is in its Beta stage several things are not working. The Camera app will send you back to the camera application, the phone app fc's on boot, and you can only access the internal sdcard. However HashCode already has Phone dial and receive, wifi, audio, gps, 3g and much more working on this rom. This rom is already in a usable stable state (i wouldn't expect random reboots, or phone lockups).
This is great news for the Droid 3 and even the Bionic community as headway is being made on hijacking the bootloader. Never discount the awesomeness of the android community. If its locked they will find a way around it.
Check out the Thread here for the download and also for updates