Here is the 411 on iPhone firmware 3.0 unlock. Apparently, the Dev Team is on the verge of release a torrent for their latest breakthru code name: UltraSn0w. The crazy thing here is that they may be able to unlock not just the good ole' iPhone 3G but the new 3G[S] as well. It appears that they've been able to hacktivate the baseband (04.26.08) from the new firmware 3.0 which is applicable to both 3G and 3G[S].
So folks, keep your F5 button free and clear of obstruction starting tonight and watch closely as the iPhone Dev Team is about to make more history again.
Demo of iPhone 3.0 pwn'd: