Geohot, the original iPhone hacker, has just posted a huge tease for the must-sought-after iPhone 3.0.x untethered Jailbreak:
The jailbreak is all software based, and is as simple to use as blackra1n. It is completely untethered, works on all current tethered models [iPod touch G2, iPhone 3GS, iPod touch G3], and will probably work on iPad too.
Don't ask when it will be available, however. Just expect it when you see it.
Video after the break!