In case you’ve forgotten, you can use this tool to unlock, activate, jailbreak, and BootNeuter your iPhone using firmware versions 1.1.4 or 2.0(1.2). It is also supposed to make porting other operating systems to the iPhone a breeze along with running unsigned code a lot easier. I have no idea what cartoon Steve is saying, but I am pretty sure its Russian, and even more sure it says PWNED!
The best part is it supposedly does all that without messing with the functionality of the iPhone due to the fact that it alters the bootloader on the iPhone. Another great part about this hack is that according to The iPhone Project its 100% legal.
Engadget got first dibs on the tool and hacked an 8GB iPhone into an unlocked, jailbroken, T-Mobile sporting version of its former self. Nilay Patel from the same said that although it’s not so refined as to be a one-click process, its not too terribly hard either. Well, now I want an iPhone even more.