The Dev-Team has released a jailbreak for the 3.1 firmware… it jailbreaks the iPhone 2G, 3G and the iPod touch 1G. You will want to read the entire post before doing anything. Below is a snippet of the post but, you can check out the full article and download the files HERE.
This is the low down on our tools for use with the 3.1 firmware from Apple, please read the whole post in full before attempting anything. Because of changes with Apple’s update techniques this will be a multipart release, starting with the initial release of PwnageTool for Mac OS X – this application supports the iPhone 1st Generation (2G), The iPhone 3G and the iPod touch 1G. NB: THIS DOES NOT SUPPORT THE 3GS OR NEW IPOD TOUCH. redsn0w for Mac OS X and Windows will follow sometime in the near future, please don’t bug us about it – we’ll release when we have something ready.
1.GOLDEN RULE: If you are using a 3G iPhone with ultrasn0w and rely on ultrasn0w to obtain cellular service, then you should only upgrade to 3.1 with a PwnageTool created .ipsw. – Stay away from Apple’s direct updates as described here and here please get up to speed on the whole subject by reading the information contained in these posts.
2.If you have an original iPhone (1st generation) then 3.1 unlock works with this PwnageTool release. iPhone 3G users upgrading to 3.1 will need to continue using ultrasn0w with a PwnageTool created 3.1 .ipsw
3.Please read all parts of this post before downloading and using these tools.
4.Read items 1, 2 and 3 again and again.
5.At the bottom of this post are the bittorrent files for the 3.1 capable version of PwnageTool.
6.This app is suitable for the recent 3.1 release.
7.This version of PwnageTool will NOT work for the iPhone 3GS.
8.PwnageTool WILL work for Original iPhone (1st Generation), Original iPod touch (1st Generation) and the iPhone 3G.
Full article HERE.