Nov 03
Geohot announced the release of Blacksn0w earlier today and just half an hour ago it was released. Blacksn0w unlocks the iPhone 3G and 3GS. You must first jailbreak your device with Blackra1n, and then install the unlock.
This unlock is for the newest baseband 05.11.07. According to Geohot it also supports tethering. For tutorials you can click on the links below:
Source: iPhoneJTag.blogspot.com
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Here is a complete tutorial on how to jailbreak iPhone 3.1.2 using blackra1n and unlock via Blacksn0w http://bit.ly/3JIwon