There are two important things in this article: one of them is that the iPhone firmware 2.0 is already live - at least a day earlier than its July 11 release date - and the other is that it's already jailbroken, thanks to the iphone-dev team. Good news? Yes, very much so, but hold yourself back from updating if you want to keep your third party applications working.

Why hold back when it's already jailbroken? There are a lot of reasons, and among them is that the jailbroken firmware 2.0 is not widely tested yet. It's better to wait first and see if there will be some problems that may arise upon attempting to jailbreak the firmware. Another thing is that you should NOT upgrade if your phone is fake activated or unlocked; doing so will lock your handset.

But what if your iPhone is already upgraded to 2.0 and you managed to jailbreak it? That's well and good, except for one thing: many jailbreak applications will have to be rewritten in order to be work with the new firmware.

What does this all tell us, then? For now, it's best if you keep your 1.1.4 firmware until the third-party developers are able to confirm that firmware 2.0 runs smoothly when jailbroken, and when most of your favorite applications are already running on a jailbroken 2.0 iPhone.

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• iPhone firmware 2.0 reportedly jailbroken prior to release
• iPhone firmware 2.0 Beta, SDK Beta 3 released