No surprises here, less than a week after release, the Dev Team are already jailbreaking the iPhone 4. It appears the vulnerability used during the Spirit jailbreak still works, and a some hackers have achieved root access to the phone.
However, we don’t know how soon it will be landing, as there is apparently a lot more work to do before it’s fully functional. The reason for this might be that in its current form, it uses some of Apple’s proprietary code. Not to mention that iOS 4.01 might be released as early as tomorrow, which would make it wise for the hackers to wait.
While the jailbreak will doubtless arrive in the near future, an unlock might take some time, as the phone has a completely baseband OS, requiring the Dev Team to tackle it from scratch.

Good luck guys make it happen. “sign” I miss my jailbreak.
Can’t wait! Thanks for all the hard work, Dev Team!
Yea thats gonna be awesome.. I wonder what new things are they gonna have for the 4… I know someone will make FaceTime work without being on wi-fi… I’m just hopin for someone to open the face time up to any phone, that would be crazy, I’ll pay 9.99 for that app… Also I miss my miwi and the app that makes the phone think it’s on wifi for better YouTube video quality… Cant wait!!!
Heck,,,, I miss SB Settings. What a PITA it is to go into settings to turn off BT and WiFi.
Keep it coming guys! You guys are amazing, and will have my support if you need anything. I can’t wait for 3G unrestrictor and hopefully you guys get FaceTime working on it.
Cheers FaceTime on 3G be excellent ! And installeous too !!