Check out this cool new Jailbreak v.1.1.2 for your iPhone. I am not sure what kind of features you get for installing this Jailbreak OS but does seem like a fun thing to do if you have couple iPhones laying around.
Conceited Software has just released an updated version of “TouchFree” GUI based to Jailbreak the latest iPhone firmware v1.1.2 and now works on Windows as well as both Mac (though Intel-based only).
However, the catch here is that for it to work you need to first run OktoPrep on iPhone v1.1.1 and then upgrade to 1.1.2. The entire JailBreaking process takes approximatley 10 minutes and as per Erica Sudan retrieves data off your iPhone or iPod Touch, upgrades it with the JailBreak, also installs the cool Installer.app and SSH.app and reloads it back to your iPhone or iPod Touch.
So for it to work you will first need to have your iPhone or iPod Touch running on firmware v1.1.1 and Jailbroken with Installer.app installed so that you can install OktoPrep which is available via the Installer App.