Yes, unlocking simply allows you to use a SIM from another carrier.
Please note that you need a SIM from another carrier (doesn't have to be activated) to unlock your phone. I used Cellunlocker.net - The best Cellphone unlockers in the world! and the instructions they gave me were not valid for the X10. It cost me $7 + $1.99 for a AT&T sim on eBay.
If what you want is to "unlock" functionalities on your phone, then you should root your phone. Plenty of tutorials here so feel free to have a look around!
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