Today the iPhone 3.1.2 update was released to iPhone, iPhone 3G, iPhone 3GS, and iPod Touch usres. This update includes mainly bug fixes. If you would like to jailbreak or unlock your device, you must read this. If you have an unlocked iPhone 3G or iPhone 3GS do not update to this new firmware, updating to the iPhone 3.1.2 firmware will permanently update your baseband. The newer baseband does not support software unlocking.
The jailbreak has not been released yet, but you if you’ve got too much time on your hands you may be able to jailbreak if you try the following. If this works please share your results in the comments.
How to Jailbreak iPhone 3.1.2Jailbreak and unlock iPhone 3.1
1. Update to iPhone 3.1.2. After updating, find your iPhone 3.1.2 IPSW file or download it using any of the links below. Remember, don’t use Safari to download. Safari can’t download .IPSW files properly, use a different browser!
* iPhone 3.1.2 download (iPhone1,1_3.1.2_7D11_Restore.ipsw, 241 MB)
* iPhone 3G 3.1.2 download (iPhone1,2_3.1.2_7D11_Restore.ipsw, 242 MB)
* iPhone 3GS 3.1 download (iPhone2,1_3.1.2_7D11_Restore.ipsw, 306 MB)
2. Download redsn0w.
3. Follow the jailbreaking guide at the Jailbreak iPhone 3.1 post.
Unlock iPhone 3.1.2
It’s possible to unlock iPhone 3.1.2 but only if your baseband has not been updated to 05.11.07 or the newer baseband, you must create a custom firmware that uses the 04.26.08 baseband. The iPhone 3.1.2 update updates the baseband to a newer one that permanently blocks the software unlock. A guide on how to unlock iPhone 3.1.2 will be up once a jailbreak tool is released. Or here go another

but the files in the update of the iphone 3.1.2 is not compilled. How do you compile it for it to work with redsnow or blackrain.
Dear Rob,
Thanks for the comment on our blog. You cannot jailbreak your iPhone with redsn0w because the Dev-Team hasn’t released a jailbreak. To jailbreak your phone you must go to http://www.blackra1n.com (this step
is only for windows users. For mac users you must do the following go to the link http://xs1.iphwn.org/releases/PwnageTool_3.1.4.dmg.5122330.TPB.torrent and here are the steps GOLDEN RULE: If you are using a iPhone 3G or iPhone 3G(S) with ultrasn0w and rely on ultrasn0w to obtain cellular service then you should only update your device with an .ipsw that is made with the new PwnageTool. There are no second chances with this. You need to remember that PwnageTool will provide an upgrade path to newer versions of the iPhone software in the future.
Please read all parts of this post before downloading and using these tools.
Read items 1, 2 and 3 again and again.
At the bottom of this post are the bittorrent files for the 3.1.4 capable version of PwnageTool.
PwnageTool will work for the iPhone 3GS
PwnageTool will work for the iPod touch 2G
PwnageTool WILL work for Original iPhone (1st Generation), the iPhone 3G and iPhone 3G(S) and the iPod touch (1st Generation and 2nd Generation) but NOT the iPod touch 3rd generation.
For 3G and 3G(S) users who are Pwned, PwnageTool is your key to updating in the future, just remember to never install an update directly from Apple, always use an .ipsw that has been created with PwnageTool.
There is no Windows version of PwnageTool it is a Mac OS X tool only, we are not developing a Windows version of PwnageTool.
Thanks,
Technology Team