Last week I reported on the iPhone Dev-Team’s much anticipated yellowsn0w – which will unlock the iPhone 3G for other wireless carriers.

As promised, the Dev-Team has let us peel back the wrapping paper a little bit before Christmas and peak at the present we all get to open on New Years Eve.

You can watch the demo – the main attraction – at MuscleNerd’s Twitter page.
There are actually two videos waiting to be viewed – the other at MuscleNerd’s Qik account – with some preliminary information regarding the AT&T SIM card.

The video assures us that yellowsn0w will be very easy to use. Stay tuned here for any breaking news on this groundbreaking hack.