That iPhone OS 3.0 jailbreak we saw the iPhone Dev-Team pull off earlier this week? It's out now, or at least, part of it is. Pwnage Tool is now flooding torrents, but there's lots of caveats here. Most importantly, this isn't Ultrasn0w, which means if you're wanting to use your toy on T-Mobile or another unofficial carrier, be patient -- it's also worth noting that the jailbreak doesn't jibe with yellowsn0w, so those who rely on it should stay away for the time being. No compatibility with the 3G S, or at least, it probably hasn't been tested... we wouldn't recommend anyone setting the precedent here. You'll need Mac OS X to run it, with QuickPwn for Mac and Windows coming further down the line. Ultrasn0w is also due out at some indeterminate future, so that all said, if you're just needing right now a jailbroken device with spotlight functionality, hit up the read link for all the pertinent details. It should goes without saying, but they're might a few negative side effects to it, and one of the big ones we heard is that YouTube might be fubar'd at the moment.
Read - trois, drei, три, három! (Pwnage Tool released) Read - No YouTube On Jailbroken iPhone 3.0?