I feel like it's groundhog day with this announcement. GeoHot who has been almost silent on the untethered jailbreaking issues, is indeed still in the game and has finally announced an untethered jailbreak for the iPhone 3GS, iPod touch 2G, 3G, and we can only assume the iPad!
The jailbreak is all software based, and is as simple to use as blackra1n. It is completely untethered, works on all current tethered models(ipt2, 3gs, ipt3), and will probably work on iPad too.
As soon as this hits the public, we will be sure to let you know!
George Hotz (geohot) on Twitter
On the iPhone
YouTube - Untethered Jailbreak