You are eagerly waiting for June 7 when Steve Jobs is going to reveal some new Apple products although it is almost confirmed that iPhone 4G will be announced and iPhone 4.0 firmware will be available for public release. Still, we are waiting for ever touching and sensational Keynote by Steve Jobs. While Apple is busy in its own planning, Hackers are also preparing their next line up of tools to unlock and jailbreak iPhone 4.0 on 4G/3GS/3G and jailbreak iPod Touch 4.0 on 3G/2G.
Update: sn0wbreeze 1.6 Download is live and you can jailbreak iPhone 3GS 3G iOS 4.
There is a another update in Jailbreak 4.0 saga, ih8sn0w [sn0wbreeze developer] has just posted a screenshot of sn0wbreeze 4.0 [beta] which depicts that this beta version [1.6] of sn0wbreeze 4.0 can jailbreak 4.0 firmware on iPhone [likely] and jailbreak iPod Touch 4.0 firmware on 2G. Soon after posting the screenshot, ih8sn0w tweeted that it was not meant for public and there is no sn0wbreeze 4.0 download release expected. Within minutes, the sn0wbreeze 4.0 screenshot was removed and it no longer exists but we have got hold of it. You can clearly see the timeline of happening below.
Anyhow, you should not lose hope as release of sn0wbreeze v1.6 to jailbreak 4.0 firmware on iPhone and iPod Touch looks imminent after June 7. We hope that sn0wbreeze 1.6 tool will be a nice alternative to jailbreak iPhone 4.0 as well as iPod Touch 4.0.
Update 1: jailbreak iPod Touch 4.0 on 2g is successful.
Update 2: Kaatje has managed to jailbreak 4.0 on iPhone 3GS which doesnot upgrade baseband and thus unlock iPhone 4.0 is not needed. It may be released by iPhone Dev Team as Pwnage Tool 4.0 but nothing can be assured until Pwnage Tool 4.0 download is available
Update 3: limera1n jailbreak may be the next tool by GeoHot. It is expected that it will be jailbreak 4.0 for iPhone and iPad 3.2 but nothing can be ensured till limera1n download is available or any official information is released.
Update 4: Step by step instructions to jailbreak 4.0 with redsn0w 0.9.5.
Update 5:You can read Unlock iPhone 4.0 which discusses expected tools to achieve the task.

