Welcome back to the Jailbreak Wars — where the Dev-Team, it appears, has just lobbed the equivalent of a tactical nuke at Cupertino.
redsn0w 0.9.2 is modestly described as "[a] cross-platform jailbreaking, unlocking, and customizing tool for
iPhones and iPod touches. Customizations include boot logos, recovery
logos, and 'verbose' boot. It's a standalone program that doesn't use
iTunes (no custom IPSWs are involved)."
Said to work on all iPhones and iPod Touches (although late-model sets have to be tethered to your PC or Mac to be jailbroken), the tool supports OS 3.0 and 3.1.2. Plans to include an IPCC tethering hack have been pushed back to v0.9.3 (which is available as a beta, so run at your own risk).
We will have a quick guide soon — no fear, the process is very easy.
[Via the iPhone Dev-Team Portal]