Geohot has struck first by releasing his limera1n jailbreak for all 3rd gen and 4th gen devices, using Comex's userland tools to make it untethered. While there was talk of consolidating Chronic Dev Team's Greenpois0n jailbreak with Geohot's Limera1n, Geohot has decided to release his first. Chronic Dev Team has responded -- angrily -- on twitter
Will they go forward with Greenpois0n as planned? Stay tuned...
Note: Before using any jailbreak, make sure you have saved your SHSH and backed up your iOS device with iTunes. If you wish to unlock or keep your unlock, make sure to use TinyUmbrella method to remain at 1.59.00 or wait for pwnagetool's custom IPSW. TiPb.com is not responsible for any damage done to your iOS device or any lost information as a result of using these jailbreaks.
UDPATE: Chronic Dev Team is now reporting that Geohot's untether is incomplete and unstable.
UPDATE 2: Comex has updated again, via Twitter:
Fine, geohot's release now has my approval, because otherwise everyone would use the initial (pulled) broken version. Ugh. I don't guarantee limerain will actually work, though. It also doesn't work on Mac/Linux... or iPhone 3G or iPod Touch second gen...
UPDATE 2: Chronic Dev Team is now delaying Greenpois0n so as to incorporate Geohot's exploit and burn their own.
For ongoing updates and discussion, follow the limra1n thread in our Jailbreak Forum.