PwnageTool 4.01: iOS 4 jailbreak for iPhone 3GS, iPhone 3G and iPod Touch 2G
DevTeam released update to their PwnageTool jailbreak utility. New version 4.01 supports iOS 4 jailbreak for iPhone 3GS (old bootrom), iPhone 3G and iPod Touch 2G (non-MC).
You can download the latest version here.
We recommend to read DevTeam instructions