It seems like the iphone-dev team is just about done placing the final touches on their new iPhone jailbreaker, PwnageTool 2.0. With the release of firmware 2.0 last week, the team has been working hard to deliver the much awaited jailbreak for Apple's latest iPhone software.

Due to a new update released by Apple (b103), the iphone-dev team had to delay the release of PwnageTool until they could get the new update integrated into their software. Since the iPhone 3G was said to run on this new firmware update, they wanted to make sure everything was near perfect before they openly released their jailbreaker to the world.

The delay allowed the team to ferret out a couple of new bugs which caused unexpected behaviors when using the App Store and third party apps on the same device. The bug tended to cause Wi-Fi dropouts and loss of stored passwords for Wi-Fi networks. Fortunately, this is merely a minor software issue and should be easily fixed.

PwnageTool 2.0 will support first gen iPhones running on the 2.0 firmware, as well as the iPod Touch. While the new jailbreaking tool will also support the iPhone 3G, it will not support 3G unlocking or BootNeuter on the 3G device. The dev team assured everyone that they will release an update with 3G support once it is completed.

The official release of PwnageTool 2.0 will be revealed once they take care of all the bugs. In any case, it shouldn't take too long before we finally see our newly purchased iPhone 3Gs free from their corporate shackles.