While the development of new PwnageTool 2.0 to unlock and jailbreak your iPhone 2.0 is still going on, the iPhone-dev Team has released a screenshot of the new software. When complete, iPhone 3G will be added to the list of supported device together with the iPhone and iPod Touch.
Here is another video from the team showing the success of logging in as root (administrator) account in iPhone
Source [iphone-dev]
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