Based on Dev-Team posts and various twitter feeds from the team members they are hard at work to release jailbreaking tools for iPhone 3.0
See after the fold list of issues they are experiencing.
- We have two issues that we’ve been trying to resolve:
- There are new 3.0 complications with YouTube.app if you’re on a hacktivated (unofficially activated) device
- There’s a bug in Apple’s new version of asr that our custom IPSW’s are tickling and causing crashes on, on some devices. (For the nerdy or curious among us, the details of that bug were tweeted by planetbeing a month ago.)
- As of Thursday morning we now have a workaround for #2. For #1, we’ll try our best to get it fixed but we may end up releasing a preliminary jailbreak in which YouTube doesn’t work for hacktivated devices, and then follow that up with a more complete jailbreak when we can.
So let's be patient, they are hard at work.
Update: How To Jailbreak iPhone OS 3.0 Using Pwnage Tool 3.0
Anyone cares about YouTube on their iPhone.
Accessories & Apps: Beta Testers Wanted
iOS Firmware/IPSW Download Guide
Legacy iTunes Download Archive
App Store Top Charts
iPhone and Android Resale Value Charts
USA iPhone Carrier Plans Compared
Complete iPhone Jailbreaking Guide 
Complete iPhone Specification Matrix 
ack! lets go with the preliminary release of the jailbreak tools! I want my skype to work on 3g again!