iPhone 3GS jailbreak released by GeoHot ahead of Dev Team

Be warned, this is beta stuff and we haven't been able to test it ourselves. However, a number of breathless tipsters and commenters are reporting a successful jailbreak and unlock of their iPhone 3GS. The magic begins with a 3GS jailbreak released by GeoHot. See, George is fed up with the Dev-Team's insistence on waiting until Apple releases iPhone OS version 3.1. As he puts it:

Normally I don't make tools for the general public, and rather wait for the dev team to do it. But guys, whats up with waiting until 3.1? That isn't how the game is played. We release, Apple fixes, we find new holes. It isn't worth waiting because you might have the "last" hole in the iPhone. What last hole...this isn't golf. I'll find a new one next week.

Meeeeow. After performing the jailbreak, ultrasn0w should then take care of the unlock although we haven't seen official comment on this by GeoHot or the Dev-Team yet. Good luck, backup, and kiss the children goodbye -- it could be a long weekend if you brick your new iPhone. Now hit the read link if you must.

[Thanks to everyone who sent this in]