redsn0w 0.9.6beta4 was just recently announced, and beta5 is now out giving both Windows and OSX users the ability to flash the iPad 06.15 baseband on iPhone3G or iPhone3GS. (why?).
This release jailbreaks iPhone3G, older iPhone3GS, and non-MC iPod touch 2G. It also assists 3G and 3G[S] users with baseband 05.14 or 05.15 who have been stuck without an unlock upgrade their baseband to 06.15 in order to use the new ultrasn0w which was just released. DO NOT DO THIS UNLESS YOU NEED TO. More on that here.
A much upgraded Cydia is also included in this release, which we'll be writing a full story on in the morning - a ton of great improvements thanks to saurik and chpwn.