Just shortly after the first iPhone 1.1.1 jailbreak was released, the iPhone Dev Team follows up with a different method that can be incorporated into future graphical tools, unlike the previous one. While this one is still not quite ready for mass consumption since it still has the problem of having to use the iPHUC command line tool, it doesn't require you to swap your media directory in, so you can sync with iTunes immediately after you jailbreak. The important milestones reached by this release are the fact it actually activates your phone, and that the code for it is open so AppTapp and other developers can incorporate it into their own apps; thus eventually making it as easy to install third-party apps on 1.1.1 as it was on 1.0.2.
(WARNING: if you have used anySIM or iUnlock in your iPhone, don't upgrade to 1.1.1. You won't be able to apply this and you will brick your iPhone. Everyone else, including people who use TurboSIM or IPSF Paid solution, can do it.) [Official Jailbreak Download (Comes with Tutorial) - (Additional reporting by JesÃºs DÃaz)]