Apple’s latest handset has been jailbroken and root access has been achieved. This early stage jailbreak utilizes the userland jailbreak method and exploits a hole that has not been closed yet by Apple.
Before you start dreaming of all the Cydia apps you can now install, the current jailbreezy contains remnants of Apple’s code and can not be released to the public. Also, Apple’s impending iOS 4.0.1 update may close the hole that is being used to gain root access. In the grand scheme of things, this achievement is really just a preliminary step in a several step process. Everyone will have to sit tight and wait while the devs behind the scenes work their magic on this latest OS from Apple, but we’re obviously thrilled at what’s to come.