For those who had/plan to Jailbreak (JB) their iPhone & iPod, the name purplesn0w, redsn0w should be very familiar to them. Now George Hotz or more familiar with Geohot had finally released the all new blackra1n to JB the new OS 3.1.2 on any machine. As claimed by Geohot, the new blackra1n only requires 30 seconds to JB your phone running on OS 3.1.2. Even the ipt3 but is tethered. In order to boot it, you will require to rerun blackra1n.
But there are some warning to those who wanted to unlock their iPhone 3G & iPhone 3G S.
Warning 3g and 3gs unlockers, do not upgrade to 3.1.2 using iTunes if you want to keep your unlock. Baseband cannot be downgraded. Check out the dev team's offerings. Also blackra1n doesn't hacktivate.
Take note that blackra1n only JB your phone and doesn't unlock it. So for those who wanted to unlock their 3G and 3G S, you will need to wait for the iPhone Dev Team to release a new version of the PwangeTool which allows you to upgrade to JB iPhone running on OS 3.1.2 and also preserve the baseband.
If you just wanted to JB your phone and not unlocking it, then you can start to download blackra1n now from here. Always take note that hacking your iPhone could VOID its warranty. My advice is, backup all your data before before proceeding with the JB. Please take note that the author will not be liable for any damage to your device as this is just for personal sharing info only. Please proceed with CAUTION always.
PS: Thanks to Geohot again for this superb contribution.