The folks of iPhone Dev Team have finally managed to jailbreak iPhone OS 3.1.2 officially, providing an alternative to geohot’s Blackra1n 30 second jailbreak solution. PwnageTool 3.1.4 is at work in order to jailbreak the new iPhone OS and this is a more user-friendly alternative to the Blackra1n.
iPhone 3G and 3GS users who want to keep their SIMs unlocked will have to update to iPhone OS 3.1.2, via the new PwnageTool release. If you’re using an already jailbroken unit, you won’t need to put the iPhone into DFU more before restoring with the custom IPSW file created by PwnageTool on your desktop.
You’ll have to click the “Restore” button in iTunes and choose the custom IPSW restore file. More details on PwnageTool and iPhone compatibility with the existing software unlock utilities over here.