The iPhone Dev Team have announced that they have managed to unlock the iPhone 3G, a task that was seem to be impossible by many, and this is soon going to be packaged in a new application similar to QuickPwn. Codenamed “yellowsn0w”, the release date will be available to all on New Year’s Eve 2008. As well, you will need to have an iPhone 3G with the baseband firmware 2.11.07 or earlier.
Here are the need to know bits from the iPhone Dev Team:
This unlock method is available to iPhone 3Gs that have 2.11.07 baseband or earlier, we did warn you. You can tell what version baseband you have by going to Settings->General->About->Modem Firmware The unlock requires a jailbroken 3G iPhone. It’ll be installable via Cydia and so it doesn’t matter if you have a Mac or PC. Please refrain from updating your baseband, regardless of what version you’re at. We’ll have complete directions on New Year’s Eve. We’ll stream a live demo of the unlock before Christmas (see the update at the end of this post)
If you are looking for a similar one for the iPod Touch 2G; well, they are not looking into it at the moment.