The Dev-Team have released a beta version of Redsn0w for iPod Touch 2G (MC Models are supported, but tethered) and  iPhone 3G. It uses the pwnage2 DFU-mode exploit and not the SHAtter exploit that was discovered by pod2g- a former member of Chronic Dev-Team.

Redsn0w 0.9.6 beta supports :

  *  iPhone 3G / iPod touch 2G
  *  Mac OS X x86  (Windows version coming soon)
  *  4.1 / 4.0 firwmare 

Note : If you rely on an unlock on your iPhone 3G, do not update to the iOS 4.1 firmware. If you update or have updated you will not be able to unlock your iPhone via Ultrasn0w.

Check out the tutorial after the jump.

 [How To]  Jailbreak iOS 4.1 :

1)  Download the latest version of iTunes 10 from here.

2)  Download iOS 4.1 for iPhone 3G (here) and for iPod Touch 2G (here).

3)  Update your iPhone to iOS 4.1 via iTunes 10.

4)  Launch Redsn0w 0.9.6b1 (download here) and browse for iOS 4.1 Firmware.

5)  Select “Install Cydia”.

6)  Follow the onscreen instructions.

7)  Your iDevice will reboot once it is jailbroken,.

As always, don't forget to tell us how it goes.