New iPhone Jailbreak & Unlock Not That Far Away
As you might imagine, the Dev-Team is already hard at work getting up to speed with Apple's latest releases. They are working on jailbreaking iOS 4 (which can already be jailbroken on the 3G, and on all versions of the 3GS).
The iPhone 4 jailbreak, which has again been made possible by @comex, is already working, but just hasn't been made public yet. According to Musclenerd, it will be very similar to the last one, Spirit, as it will also function painlessly on any device you want.
Further, Musclenerd just announced via Twitter that the unlock is coming along as well. Based on a screenshot he posted, it seems they're already able to run arbitrary code on the iPhone's baseband and now just need to background it. What we're all really waiting for here is 3G unrestrictor working on Facetime. Hopefully that's not too far away.
[Thanks to adamavfc for the tip]