iPhone-dev Team is definitely working hard on their new PwnageTool 2.0 to unlock your iPhone 2.0. They have just released another video, showing off their work on breaking into the iBoot and promised an unblockable hacking/unlocking.

According to the team, “Pwnage breaks the chain of trust from the very earliest boot stage, and as the video shows, this chain has now been broken on the iPhone 3G. Given that the only thing lower than this is ROM, Apple will have to change the hardware to prevent us from getting in, and we don’t expect them to ask for your phone back so they can ‘fix’ it.”

Source [iphone-dev]