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There was a video on YouTube showing JailBroken iPhone 3GS on iOS 4.0. And Sn0wBreeze maker iH8sn0w confirmed he did it and he might bring and public update to Jailbreak New Bootrom.

From YouTube description of the video:

As of today, Im one of only a handful of regular jailbreakers to be be pwned on 4.0 with a new bootrom 3Gs. That could always change tomorrow, who knows.

iH8sn0w’s response on this:

The cool video here — http://www.youtube.com/watch?v=NWc_d2C5TME // Is indeed real, but requires the 3.1.2 SHSH blobs.

and Please don’t ask for a release on this. I’m not planning on it.

Alright… If anyone has their 3.1.2 SHSH blobs, NOT 3.1.3. Then I’ll see if I can produce a tool that will do this job…

As far we could understand some feature about this tools

1) it is a tethered jailbreak (whenever you turn off your phone, you will need to re-connect it to a computer to be able to turn it back on) 

2) it will only work for those devices which have their SHSH blobs (ECID SHSH) files for 3.1.2 (NOT 3.1.3) saved on Cydia. This jailbreak also required a special tool for rebooting as shown in the video below.

There is no ETA (Estimated Time of Arrival) on the release. According to iH8sn0w, he will “see if [he] can produce a tool that will do this job…”.

Here is the Youtube Video

Thanks: RedMond Pie

You could always get support from UnlockAlliPhone.com about any Unlock & JailBreak issue of any model of iPhone including iPhone 2G,3G & 3GS and also upcoming iPhone 4. They provide Premium Members Support for life time. Means just pay one time a small fee and you will receive support(real human support – avg response time 2 hour) for all present & future version of iPhone.