After suspicions that the rumored iPhone 1.1.3 Jailbreak solution was a hoax, the Dev Team have pleased us all by rolling out a working patchfor the latest iPhone firmware that leaves unlocked handsets compatible with any SIM and, thanks to some intelligent on-the-fly adaptation of Apple’s official firmware update, doesn’t wipe any notes from your cellphone.  Available in Mac and PC versions, the software downloads the 1.1.3

upgrade, decompresses is, Jailbreaks and adds Installer.app to it, next flashes the iPhone with the modified version.  After a reboot you not only have all of the latest Apple features - including multi-recipient SMS and assisted-GPS - but the ability to load third-party applications in advance of the official SDK.

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Original post by Chris Davies