Update 15.07.2008: iPhone 3G allegedly unlocked using SIM Adapter (read here)
Update 15.07.2008: XPwn command line utility released by iPhone Dev Team (read here)
Update 14.07.2008: Geohot confirms that iPhone 3G got a new bootloader (read here)
It is rumored, the Pwnage Tool for firmware 2.0 (= firmware 1.2) will not be released this weekend. Enjoy youself and don’t play around until we tell you.
Anyway the iPhone Dev Team has released a video of Pwnage Tool 2.0. See here: