They did it again: iPhone Dev Team has unlocked the iPhone 3G. They are now packaging the user-friendly software for a December 31 release.
While it took a little longer than the free iPhone EDGE unlock, it does sound like this is the real deal. The team is claiming a successful unlock—now the next step is to package it up in a user-friendly GUI app like Pwnage Tool.
The only catch is that it will work only with iPhone 3Gs with baseband version 2.11.07 or earlier, and it must be jailbroken. To ensure you preserve an unlockable version of the baseband, the Dev Team has warned against the usage of the QuickPwn jailbreaking tool and against updating via official firmwares without first waiting for Pwnage Tool to work with it. More guidelines for that are here.
Phew, after all this l33t my head is starting to spin, but the good news remains—iPhone 3G unlock is on the way! [Dev Team]