You have to hand it to the iphone-dev team and their dedication in jailbreaking the latest software Apple came up with. With the recent release of iPhone firmware 2.0, the homebrew team has come up with a video showing off its new iPhone PwnageTool 2.0 designed to jailbreak the new firmware update.

PwnageTool 2.0 will be a windfall for those users who enjoy installing third party applications into their Apple gadgets. In fact, they mentioned that "it should be as easy enough for your grandmother to use".

The new jailbreaking tool will include a lot of new features, including 2.0 support, spotlight file indexing of .ipsws, canned websearches, installer custom configuration, custom root partitions, and more. The release of PwnageTool 2.0 should arrive very soon, according to the developers.

In case you're wondering how PwnageTool 2.0 looks like, you can take a look at the upcoming application in action through the video below.