We have an update from iphone-dev that falls in the good news / not-so-good news category. The not-so-good is that they're still hard at work on figuring out how to unlock the baseband radio, but there's no ETA on when or (here's the bad part) whether it's going to happen.
On the good news front, the Jailbreak for 2.0.1 is still humming along nicely and the team has put together a little tool called QuickPwn which allows you to jailbreak without having to sit through a full restore afterwards. I was forced to restore my iPhone over the weekend (so much for trusting 'Update All' on the on-device App Store), so I can tell you that avoiding this lengthy process is a Good Thing. QuickPwn is still very early in development and currently only available for Windows. You'll also be forgoing a "funky UI," but that's a small price to pay for getting that hour or so of your life back.