Yey, although there has been numerous Jailbreak HOWTOs for the iPhone since the birth of the “Safari-browsing” device, LifeHacker shows you a clear and easy method to jailbreak that iPhone. (Jailbreak is btw a aftermarket firmware/software for your iPhone. jic)
The screenshot app does work; I’m not entirely certain on this point, but I think it required the reinstallation of the BSD Subsystem. Your mileage may vary. That said, I think the 1.1.3 trade-off is worth it, and hopefully—if Apple puts together a reasonable system for downloading and installing applications once the SDK is released next month and apps don’t cost an arm and a leg—this is the last jailbreak you’ll ever need.