While a good portion of iPhone 4 owners wait for GreenPois0n to release, we now have some good news for those of you with a iPhone 3G handset running iOS 4.1, as a full jailbreak method has just been released.
According to this report from RedmondPie, the jailbreak on iOS 4.1 has been achieved using PwnageTool bundle and unlike similar methods for other iOS 4.1 devices, Cydia and Hacktivation are confirmed features.
After using the PwnageTool bundle on your iPhone 3G on iOS 4.1, you can then proceed to unlock your handset if you wish, using ultrasn0w. RedmondPie has listed all the download links you need, as well as step by step instructions for you to follow.
As always, this is a risky business and you will void your warranty with Apple if you choose to go down this route. However if you know what you are doing, let us know if this latest method worked for you so others can try it.